Avecho Biotechnology Ltd.

Aug. 25, 2021 14:00 UTC SAN CARLOS, Calif.--(BUSINESS WIRE)-- RubrYc Therapeutics (“RubrYc”) and iBio, Inc. (“iBio”, NYSEA: IBIO) announced today the closing of RubrYc’s Series A2 Preferred Financing, and concomitant License and Collaboration Agreements directed towards the research, development, and commercialization of epitope-targeted antibody therapeutics. With this transaction, iBio becomes an important strategic investor with its $7.5M investment in the RubrYc’s Series A2 Preferred equity, joining Third Point Ventures, Paladin Capital Group, Vital Venture Capital, and Hayan Health Networks in the Company’s investor syndicate. Additionally, iBio secures exclusive worldwide rights to advance RubrYc’s lead program, RTX-003, a CD25 targeted monoclonal antibody for selective depletion of regulatory T cells in the solid tumor microenvironment. The collaboration will allow the parties to combine RubrYc’s Discovery Engine and antibody discovery expertise with iBio’s capabilities as a developer of next-generation biopharmaceuticals and pioneer of the sustainable FastPharming Manufacturing System® to create novel therapies for patients in need. Under the terms of the agreement RubrYc will be responsible for the discovery of epitope-targeted drug candidates using RubrYc’s proprietary Meso-scale Engineered Molecules to steer antibody discovery campaigns to particular epitopes on mutually agreeable disease targets. iBio will collaborate in discovery campaigns and will be responsible for conducting preclinical, clinical and commercialization activities for the selected drug candidates from the collaboration. Under the terms of the agreement, if iBio develops and commercializes multiple candidates produced in the collaboration, RubrYc could receive more than $84 million as milestone payments related to discovery and development activities. RubrYc may also receive royalties on worldwide net sales of any commercial products developed through the collaboration. “We are excited to collaborate with iBio,” stated RubrYc’s Co-Founder and Chief Executive Officer, Isaac Bright, MD, “an ambitious partner whose strategic transformation is aligned with our vision to efficiently discover and develop epitope-targeted therapies that promise to outperform conventionally discovered precedent molecules. iBio is also a fantastic partner to advance our lead campaign, RTX-003, an anti-CD25 monoclonal antibody we’ve discovered that shows tremendous promise as a regulatory T Cell depletor for multiple solid tumor indications.” “We expect RubrYc’s epitope-targeting antibody discovery technology to drive differentiated campaigns attacking challenging targets, and to efficiently confer multiple opportunities to discover and advance epitope-advantaged antibodies against well-characterized oncology targets,” said iBio’s Chief Executive Officer, Tom Issett who will join RubrYc’s Board of Directors. “RTX-003 is a remarkable asset to add to our therapeutic pipeline, and we look forward to completing IND-enabling activities as we continue to expand our discovery and development capabilities.” About RubrYc Therapeutics, Inc. RubrYc Therapeutics, Inc., is a biotechnology company applying proprietary machine-learning and computational biology solutions to discover epitope-selective mono and bispecific antibodies. Inspired by recent advances in molecular library synthesis, massively parallel screening and computing, RubrYc is forging a new path for information-driven discovery of therapeutic antibodies. RubrYc Therapeutics, Inc. leverages its Discovery Engine to rapidly identify large numbers of antibodies with unique binding properties against validated and challenging targets. RubrYc spun out of HealthTell, Inc. in 2018 to advance discovery of biotherapeutics, and to partner with top-tier pharmaceutical companies that share its mission to expand therapeutic options and improve outcomes for patients in need. RubrYc is based in San Carlos, California. For more information, visit . About iBio, Inc. iBio is a global leader in sustainable, plant-based biologics manufacturing. Its FastPharming System® combines vertical farming, automated hydroponics, and novel glycosylation technologies to rapidly develop high-quality monoclonal antibodies, vaccines, bioinks and other proteins. iBio is developing proprietary drug candidates which include biopharmaceuticals for the treatment of cancers, as well as fibrotic and infectious diseases. The Company’s subsidiary, iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services along with Glycaneering Development Services™ for advanced recombinant protein design. For more information, visit .

MELBOURNE, Australia, May 3 /PRNewswire-FirstCall/ -- Phosphagenics Limited (AIM: PSG) announced today that the Company intends to initiate a Phase 1b clinical trial to demonstrate the efficacy and safety of the improved formulation of its transdermal insulin product, TPM-02/Insulin, containing long-acting insulin. The trial is expected to commence in the second quarter of 2007. TPM-02/Insulin gel is being developed as a novel "needle-free" way of administering insulin to patients with diabetes. Following the successful completion of a Phase 1a study utilizing short-acting insulin, this trial will assess an optimized formulation of long-acting insulin. Recent advancements in Phosphagenics' patented TPM-02 delivery system have enabled the formulation of long-acting insulin; which is significantly less expensive than short- acting insulin, provides appropriate levels of insulin in humans and is commercially attractive. "In August of 2006, our Phase 1a study demonstrated that a single application of TPM-02/Insulin gel rapidly delivered insulin across the skin and into the bloodstream without any adverse reactions," said Dr. Esra Ogru, Executive Vice President at Phosphagenics. "Additionally, it significantly lowered blood glucose, insulin and c-peptide levels." "The Phase 1b study is intended to provide additional supporting data for an Investigational New Drug application to the U.S. Food and Drug Administration," continued Dr. Ogru. "The trial will be conducted by CMAX at the Royal Adelaide Hospital, South Australia, will include up to 45 healthy volunteers and is expected to lead directly into the start of a large multi- site Phase 2 trial that is likely to include up to several hundred patients." "This is an important step for the development and commercialization of TPM-02/Insulin," said Harry Rosen, President and CEO of Phosphagenics. "This technology has the potential to provide diabetics with a non-invasive and effective treatment, and we look forward to its continued development." About Phosphagenics Limited Phosphagenics is a Melbourne-based, globally driven biotechnology company focused on the discovery of new and cost effective ways to enhance the bioavailability, activity, safety and delivery of proven pharmaceutical and nutraceutical products. The Company's core technology is built around the science and application of phosphorylation, a process where the addition of a phosphate group has been found to enhance the bioavailability, activity and safety of existing pharmaceuticals and nutraceuticals, as well as to assist in the production of drug delivery platforms. Phosphagenics' shares are listed on the Australian Stock Exchange (POH) and the London Stock Exchange's Alternative Investment Market (PSG). An ADR - Level 1 program has been established in the US with the Bank of New York (PPGNY) for US investors to trade in Phosphagenics' stock on the 'over-the-counter' market. For more information, please visit Phosphagenics' web site at Phosphagenics Limited CONTACT: Company - Dr. Esra Ogru, Executive Vice President Research &Development, Phosphagenics Limited, +61-3-9605-5900, or Mr. Harry Rosen,President and CEO, Phosphagenics Limited, +61-3-9605-5900; or U.S. Investorand Media - Brian Ritchie or Evan Smith, both of FD, +1-212-850-5600 Web site: