iBio jumps with news that could make the company a long-term goldmine
- iBio recently announced that if its proprietary COVID-19 vaccine gets approved by the FDA, it should be able to manufacture 500M doses at the Texas site.
- This news caused iBio to open with gains over 50%, the stock fell shortly after and is currently up 26%.
- The company claims that the scalability is linked to its modular technology behind its FastPharming Manufacturing System, which scales production by simply growing more plants within its 130K sq. ft. facility.
- The company also said that it has joined the National Institute for Innovation in Manufacturing Biopharmaceuticals. Importantly, NIMBL is one of 14 institutes in the Manufacturing USA Network.
- iBio now has access to an extensive network of more than 140 academic and industry partners in the United States. These partners include biopharmaceutical companies, academic institutions, research laboratories, and non-profit organizations.
iBio, Inc. is a biotechnology company, which engages in the development and manufacture of biotherapeutics. Its pipeline include idiopathic pulmonary fibrosis, systemic sclerosis, and scleroderma. It operates through the iBio, Inc. and iBio CDMO business segments. The company was founded on April 15, 1993 and is headquartered in New York, NY.