SAN DIEGO - iBio Inc. (NYSEA: IBIO), whose stock has surged over 90% in the past year according to InvestingPro data, has announced, in partnership with AstralBio Inc., the creation of an antibody that targets Activin E, a protein linked to cardiometabolic disorders and obesity. This development marks a significant step forward for iBio’s drug discovery platform, which utilizes artificial intelligence to advance antibody immunotherapies. With a current ratio of 3.37, the company maintains strong liquidity to support its research initiatives.
The antibody’s development signifies a potential industry first, according to iBio’s CEO Martin Brenner, Ph.D., DVM. While InvestingPro analysis shows the company is not yet profitable, with an EBITDA of -$14.75M in the last twelve months, the company’s proprietary Machine-Learning Antibody Engine was instrumental in identifying critical regions on the Activin E protein, enabling the creation of synthetic epitopes and the subsequent development of antibodies without the need to produce Activin E itself.
Preclinical studies have demonstrated the antibody’s strong binding to Activin E and its ability to block the protein’s signaling, which is believed to play a crucial role in regulating metabolic health. By inhibiting Activin E, researchers hope to develop treatments that reduce abdominal fat and lower the risk of type 2 diabetes and cardiovascular disease, while preserving muscle mass.
The collaboration between iBio and AstralBio includes an exclusive license for AstralBio to use iBio’s Drug Discovery (NASDAQ:WBD) Platform to engineer four targets for cardiometabolic disease treatment, with options for further preclinical development. iBio retains the option to license three cardiometabolic targets from AstralBio and will have the rights to develop, manufacture, and commercialize these targets.
This announcement follows the recent licensing of an anti-myostatin antibody from AstralBio by iBio, as well as the development of a bispecific antibody targeting myostatin and Activin A, intended to aid in weight loss and prevent muscle loss and weight regain.
The companies have not disclosed specific timelines for the clinical development of the new antibody. However, the rapid advancement of the joint myostatin program and the development of the new antibody against Activin E underscore the effectiveness of iBio’s technology platform and the scientific expertise of both teams.
This news is based on a press release statement and does not necessarily reflect the views of the Wall Street Journal or its editorial policy. Investors seeking deeper insights into iBio’s financial health and growth prospects can access additional analysis and 8 more exclusive ProTips through InvestingPro, including detailed metrics on the company’s revenue growth forecast and market performance relative to peers.
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