iBio, Inc. Reports Financial Results for the Quarter Ended March 31, 2025
iBio, Inc. reported its financial results for the three and nine months ended March 31, 2025. The company’s revenue was $X, with a net loss of $Y. As of March 31, 2025, the company had cash and cash equivalents of $Z and a working capital deficit of $W. The company’s total assets were $X, with total liabilities of $Y and total stockholders’ equity of $Z. The company’s condensed consolidated balance sheets and statements of operations, stockholders’ equity, and cash flows are included in this report. The company’s management’s discussion and analysis of financial condition and results of operations is also included, which provides an overview of the company’s financial performance and position.
Overview
iBio, Inc. (“iBio,” “we,” “us,” or “our”) is a preclinical stage biotechnology company leveraging the power of Artificial Intelligence (AI) for the development of hard-to-drug precision antibodies. Our core mission is to harness the potential of AI and machine learning (ML) to unveil elusive biologics that stand out and have evaded other scientists. Through our innovative AI Drug Discovery Platform, we champion a culture of innovation by identifying novel targets, forging strategic collaborations to enhance efficiency, diversify pipelines, and with the goal of accelerating preclinical processes.
Further Develop and Expand Technology Stack
Our technology platform addresses current challenges in antibody discovery:
- Epitope steering technology allows precise targeting of antibodies against hard-to-drug proteins and challenging target epitopes, unlocking a novel target space.
- Ability to steer antibodies towards agonistic or cell-activating epitopes enables creation of antibodies with complex modes of action.
- ShieldTx technology renders antibodies inactive until they reach the intended tissue, reducing adverse effects and development time.
- StableHu technology coupled with mammalian display enables rapid antibody optimization with fewer steps, lower immunogenicity risk, and improved developability.
Capital Efficient Business Approach
Our strategic business approach includes:
- Strategic Collaborations: We aim to become the preferred partner for companies seeking rapid and cost-effective integration of complex molecules into their portfolios.
- Developing In-House Programs Cost-Effectively: We have an exclusive agreement with AstralBio to develop antibodies targeting myostatin, activin A, and activin E for obesity and cardiometabolic disorders.
- Tech Licensing in Diverse Therapeutic Areas: We are exploring partnerships to license our AI tech stack to partners in areas like CNS, immunology, and vaccines.
Focused Investment in Advancing the Platform
We maintain a focused commitment to invest in our platform, continually unlocking the potential of biology through AI and ML.
AI Drug Discovery Platform
Our platform comprises five key components:
- AI Epitope Steering Technology
- Naïve Human Antibody Library
- StableHu AI Antibody-Optimizing Technology
- EngageTx CD3-Based T-Cell Engager Panel
- ShieldTx Antibody Masking Technology
These technologies work synergistically to rapidly advance antibodies from concept to in vivo proof-of-concept.
Collaborations and Partnerships
In March 2024, we entered a collaboration with AstralBio to discover and develop novel antibodies for obesity and cardiometabolic diseases. We have the exclusive option to license three additional obesity and cardiometabolic targets from AstralBio.
Therapeutics
Obesity/Cardiometabolic Diseases
- IBIO-600: An anti-myostatin antibody licensed from AstralBio, which has shown promising results in preclinical studies.
- Anti-Myostatin Antibody x Activin A: A bispecific antibody targeting both myostatin and activin A, in late discovery stage.
- Activin E: An antibody inhibiting activin E, which has demonstrated synergistic effects when combined with semaglutide in a diet-induced obesity mouse model.
Immuno-Oncology
- IBIO-101: A second-generation anti-CD25 mAb that has shown the ability to deplete immunosuppressive regulatory T cells in preclinical models. Development has been paused to focus on obesity and cardiometabolic diseases.
- TROP-2 x CD3 Bispecific: A bispecific antibody targeting TROP-2 and CD3 that has demonstrated significant tumor reduction in a humanized mouse model.
- MUC16 x CD3 Bispecific: A bispecific antibody targeting MUC16 and CD3 that has shown a wide range of potencies in in vitro tumor cell-killing assays.
- EGFRvIII: Antibodies targeting the tumor-specific EGFRvIII variant have shown effective tumor cell killing in preclinical studies.
- CCR8: An anti-CCR8 antibody has demonstrated the ability to deplete regulatory T cells and inhibit tumor growth in a mouse model for colon cancer.
Liquidity and Capital Resources
The company has incurred significant losses and negative cash flow from operations. As of March 31, 2025, the company had approximately $5.2 million in cash, cash equivalents and restricted cash. The company has taken various actions to increase liquidity, including equity offerings, collaborations, and the sale of intellectual property. However, the company will need to raise additional capital to fully execute its longer-term business plans.
