iBio, Inc. (IBIO) Appoints Senior Management for New Business Unit, iBio Brazil
NEWARK, DE--(Marketwired - November 05, 2013) - iBio, Inc. (NYSE MKT: IBIO), has appointed Carlos Picosse as chief executive officer and Dr. Renato Lobo as chief medical officer of iBio Brazil, a subsidiary the company is forming to manage and expand iBio's business activities in Brazil.
In response to their request to invest in the company, the company sold 1 million shares of its common stock to Picosse and 200,000 shares to Dr. Lobo at $0.40 per share, for a total consideration of $480,000.
Picosse is the former group president of Valeant Farmaceutica do Brasil Ltda, and Dr. Lobo is the former medical and regulatory director of Valeant Farmaceutica do Brasil Ltda.
About iBio, Inc.
iBio develops and offers proprietary products and product licenses, based on its proprietary iBioLaunch and iBioModulator™ platforms, providing collaborators full support for turn-key implementation of its technology for protein therapeutics and vaccines. In Brazil, iBio has been collaborating with Oswaldo Cruz Foundation (Fiocruz) and Fraunhofer Center for Molecular Biotechnology since 2011 to develop a recombinant yellow fever vaccine based upon iBio technology. The iBioLaunch platform is a proprietary, transformative technology for development and production of biologics using transient gene expression in unmodified green plants. The iBioModulator platform is complementary to the iBioLaunch platform and designed to significantly improve vaccine products with both higher potency and greater duration of effect. The iBioModulator platform can be used with any recombinant expression technology for vaccine development and production. Further information is available at: www.ibioinc.com.
FORWARD-LOOKING STATEMENTS
STATEMENTS INCLUDED IN THIS NEWS RELEASE RELATED TO IBIO, INC. MAY CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. SUCH STATEMENTS INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES SUCH AS COMPETITIVE FACTORS, TECHNOLOGICAL DEVELOPMENT, MARKET DEMAND, AND THE COMPANY'S ABILITY TO OBTAIN NEW CONTRACTS AND ACCURATELY ESTIMATE NET REVENUES DUE TO VARIABILITY IN SIZE, SCOPE AND DURATION OF PROJECTS. FURTHER INFORMATION ON POTENTIAL RISK FACTORS THAT COULD AFFECT THE COMPANY'S FINANCIAL RESULTS CAN BE FOUND IN THE COMPANY'S REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.
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