iBio Further Strengthens Board with Appointment of Veteran Biopharmaceutical Executive, Eef Schimmelpennink
June 09 2021 - 3:30PM
iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a biotech
innovator and biologics contract manufacturing organization,
announced today the appointment of Evert (Eef) Schimmelpennink to
its Board of Directors, effective immediately.
In an executive leadership career spanning more
than 20 years, Mr. Schimmelpennink has applied his strategic and
functional expertise across corporate development, commercial
operations, manufacturing, and R&D to help build and scale a
number of global public and private biopharmaceutical businesses.
Recently, he served as CEO of Pfenex Inc., a NYSEA-listed company
which, using its patented Pfēnex Expression Technology® platform,
created an advanced pipeline of therapeutic equivalents, vaccines,
biologics and biosimilars. Pfenex was acquired by Ligand
Pharmaceuticals Incorporated for approximately $516 million
(including contingent value rights) in October 2020. Previously,
Mr. Schimmelpennink served as CEO of Alvotech Ehf, a global
biopharmaceutical company focused on becoming a leader in the
biosimilar monoclonal antibody market. Prior to joining Alvotech,
he held variety of progressive roles with Pfizer Inc., Hospira,
Inc., Synthon BV and Numico NV. Mr. Schimmelpennink holds a Masters
in Bioprocess Engineering from the Wageningen University in the
Netherlands.
“Eef has a strong history of success leading
companies with novel protein expression platforms to develop and
commercialize biopharmaceutical products,” said Tom Isett, Chairman
& CEO of iBio. “He is joining our team at an opportune time,
given we are adding our own in-house drug discovery capabilities to
our existing contract development and manufacturing services,
similar to what Eef did in his most recent leadership role at
Pfenex.”
Mr. Schimmelpennink commented, “I am honored to
join iBio’s Board and look forward to working with my talented
colleagues as the Company continues to harness the power of its
unique plant-based FastPharming System® to help
reduce drug development times and costs, and, importantly, to help
rapidly develop its own biopharmaceutical candidates to address
unmet medical needs in human health and veterinary medicine.”
About iBio, Inc.
iBio is a global leader in plant-based biologics
manufacturing. Its FastPharming® System
combines vertical farming, automated hydroponics, and novel
glycosylation technologies to rapidly deliver high-quality
monoclonal antibodies, vaccines, bioinks and other proteins. iBio
is developing proprietary products 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
www.ibioinc.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release
constitute "forward-looking statements" within the meaning of the
federal securities laws. Words such as "may," "might," "will,"
"should," "believe," "expect," "anticipate," "estimate,"
"continue," "predict," "forecast," "project," "plan," "intend" or
similar expressions, or statements regarding intent, belief, or
current expectations, are forward-looking statements. These
forward-looking statements are based upon current estimates and
assumptions and include statements regarding the expected
contribution of Mr. Schimmelpennink, the Company using its
FastPharming® System to reduce drug development
times and costs, and rapidly develop its own biopharmaceutical
candidates to address unmet medical needs in human health and
veterinary medicine. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward-looking statements are subject to various risks and
uncertainties, many of which are difficult to predict that could
cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from current expectations
include, among others, the contribution of Mr. Schimmelpennink to
the Board, the Company’s ability to use its
FastPharming System to reduce drug development
times and costs, the Company’s ability to obtain regulatory
approvals for commercialization of its product candidates,
including its COVID-19 vaccines, or to comply with ongoing
regulatory requirements, regulatory limitations relating to its
ability to promote or commercialize its product candidates for
specific indications, acceptance of its product candidates in the
marketplace and the successful development, marketing or sale of
products, its ability to maintain its license agreements, the
continued maintenance and growth of its patent estate, its ability
to establish and maintain collaborations, its ability to obtain or
maintain the capital or grants necessary to fund its research and
development activities, competition, its ability to retain its key
employees or maintain its NYSE American listing, and the other
factors discussed in the Company’s Annual Report on Form 10-K for
the year ended June 30, 2020 and the Company’s subsequent filings
with the SEC, subsequent periodic reports on Forms 10-Q and 8-K.
The information in this release is provided only as of the date of
this release, and we undertake no obligation to update any
forward-looking statements contained in this release on account of
new information, future events, or otherwise, except as required by
law.
Contact:
Stephen KilmeriBio, Inc.Investor Relations(646)
274-3580skilmer@ibioinc.com
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