Ibio Inc (NYSEAMERICAN: IBIO) is continuing its run for the top this morning, trading on gains of more than 47%. The gains come after an early morning announcement yesterday surrounding a Manufacturing USA initiative. Here’s what’s going on:
IBIO Stock Is Heating Up
iBio made an announcement yesterday morning that led to quite a bit of excitement in the market. In a press release, the comapny said that it is now part of a new public-private Manufacturing USA initiative.
The initiative, known as the Advanced Regnerative Manufacturing Institute, or ARMI, brings a consortium of over 100 partner organizations together. These organizations from industry, government, academia and the non-profit sector will develop next-generation manufacturing processes and technologies for cells, tissues and organs.
In the release, IBIO said that the federal government is providing about $80 million in funding to the initiative. Moreover, this will be combined with over $200 million in cost-share. All of this funding will support the development of tissue and organ manufacturing capabilities.
The program is being led by ARMI on behalf of the Department of Defense. All in all, the initiative will focus on creating state-of-the-art manufacturing innovations in biomaterial and cell processing.
In a statement, Robert B. Kay, Chairman and CEO at IBIO, had the following to offer:
We are pleased to join the ARMI consortium and contribute our expertise in biologics production. Our proven FastPharming™ System is uniquely suited to support the need for high-performing raw materials for biofabrication and cell culture given the speed, consistency, safety and scalability of protein production in plants. We are looking forward to collaborating with the other esteemed members of ARMI/ATB to help advance biomaterial innovation for 3D bioprinting applications.
Why This News Is So Exciting
This news has led to two consecutive days well in the green for iBio. So, why is it that the news is so exciting? Here’s why:
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At the end of the day, being part of the AMRI initiative gives IBIO access to assets and information. There are several publicly traded and privately held companies as members of the initiative.
Moreover, other entities, such as highly regarded educational facilities, government bodies, and more are taking part. By combining the knowledge of all parties, one could only imagine the results of the initiative.
Of course, IBIO will be centered in this. As such, the company’s own manufacturing processes are likely to benefit, providing more fundamental strength for the company and a competitive advantage over its competitors.
All in all, there’s very good reason for all of the excitement here.
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