Shares of Ibio Inc (NYSEAMERICAN: IBIO) today gapped 11.2% higher premarket after the biotech company entered into an agreement with Safi Biosolutions, Inc. (“Safi”) to evaluate iBio’s FastPharming® System for the expression of key proteins, which could be used in the bioprocessing of Safi blood cell therapy products.
Safi is an early-stage biotech company working as the cell therapy commercialization partner for a five-year government program aiming to produce blood on-demand, a national priority. To achieve the quality and cost-of-goods objectives for the program, Safi turned to iBio’s plant-based protein expression system.
“iBio is pleased to partner with Safi as we leverage our capabilities and know-how for this innovative cell therapy program,” said Tom Isett, Chairman & CEO of iBio. “This opportunity is a natural fit for our new portfolio of Research & Bioprocess products, in which we are developing animal-free solutions for cell culture and 3D-bioprinting applications, amongst others.”
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Doug McConnell, the co-founder and CEO of Safi Biosolutions, commented, “Safi Biosolutions believes iBio’s plant-based expression system has the potential to provide both quality improvement and cost reduction for many of the important cytokines and media used in our cell culture and growth process, and we are excited to initiate this strategic partnership.”
Ibio will also invest $1.5 million in Safi Biosolutions as a convertible note earning 5% interest annually.
Ibio Inc share price
Ibio Inc shares today surged 11.2% to trade at $2.28 having ended Thursday’s session trading at $2.05.
People who read this also read:
