iBio, Inc. (IBIO), a biotechnology company in the preclinical stage, announced on Thursday the acquisition of an in-licensed long-acting anti-myostatin antibody, IBIO-600, from AstralBio, Inc.
iBio has embarked on a bispecific antibody initiative aimed at addressing obesity and cardiometabolic disorders. This effort utilizes its proprietary drug discovery platform in conjunction with the IBIO-600 technology.
The IBIO-600, which AstralBio identified using iBio's exclusive technological framework, is designed for subcutaneous administration and potentially offers an extended half-life.
Under the terms of the agreement, iBio has made an upfront payment of $750,000 in the form of stock to AstralBio. Additionally, AstralBio is eligible to receive milestone payments that could amount to $28 million.
This new agreement is an extension of the drug discovery and development collaboration that the two companies initiated in March of the previous year.
The material has been provided by InstaForex Company - www.instaforex.com
iBio has embarked on a bispecific antibody initiative aimed at addressing obesity and cardiometabolic disorders. This effort utilizes its proprietary drug discovery platform in conjunction with the IBIO-600 technology.
The IBIO-600, which AstralBio identified using iBio's exclusive technological framework, is designed for subcutaneous administration and potentially offers an extended half-life.
Under the terms of the agreement, iBio has made an upfront payment of $750,000 in the form of stock to AstralBio. Additionally, AstralBio is eligible to receive milestone payments that could amount to $28 million.
This new agreement is an extension of the drug discovery and development collaboration that the two companies initiated in March of the previous year.
The material has been provided by InstaForex Company - www.instaforex.com