iBio (IBIO) Stock Rockets After Announcing COVID-19 Therapeutic Partnership

iBio IBIO Stock News

iBio Inc (NYSEAMERICAN: IBIO) is a stock that I’ve been watching for some time. Moreover, all week, I’ve been pointing to the evidence that convalescent plasma may be effective against COVID-19 and that IBIO has been working with plasma for around a decade.

So, I wasn’t surprised when IBIO stock started to run for the top this morning after announcing that it has entered into a partnership surrounding the development of a COVID-19 treatment. Here’s what’s going on:

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IBIO Heads Up On COVID-19 Treatment Partnership

In the press release, iBio said that it has entered into an exclusive worldwide license agreement. The agreement was signed with Planet Biotechnology and surrounds the development of ACE1-Fc, Planet’s COVID-19 therapeutic candidate.

ACE2 is used as a decoy to blind the spike protein and block infection of healthy cells. Moreover, the fused Fc domain prolongs the life of the protein in circulation. It is expected that this unique approach to the treatment of COVID-19 will be an effective option for patients in need.

As part of the exclusive agreement, IBIO received an exclusive license to the candidate. As a result, Planet is eligible to receive certain pre-specified payments upon achievement of clinical development milestones.

In a statement, Tom Isett, Chairman and CEO at IBIO, had the following to offer:

We see tremendous opportunity in our partnership with Planet to develop this novel immunoadhesin molecule as a potential COVID-19 disease treatment. We believe the molecule may be effective against SARS-CoV-2 infection, and that it has the potential to be rapidly re-designed in the FastPharming® System to address mutations in the current virus, if any, as well as future coronaviral diseases.

The above statement was followed up by Elliot Fineman, President and CEO at Planet Biotechnology. Here’s what he had to say:

iBio is an ideal partner for Planet, offering experience in manufacturing plant-based biopharmaceuticals and rapid scale-up capabilities. We are eager to support iBio in the pre-clinical development of ACE2-Fc.

This News Is Huge

The news released by IBIO early this morning proved to be overwhelmingly positive. The company already has two vaccine candidates for COVID-19 under development, making it a stock well worth watching. However, with the treatment news issued today, there’s even more reason to be excited.

While there may be vaccines on the way, science tells us that even with great vaccine options, COVID-19 will likely come back regularly. After all, it is a coronavirus, and if we learned anything from the coronavirus that causes the common cold, it’s that human immunity to coronaviruses only lasts a short period of time.

With that said, there is likely going to be long term demand for multiple vaccine and therapeutic options. With IBIO playing both sides of the coin, and having the FastPharming Facility for a competitive advantage, this is a stock that should not be ignored.

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