iBio Expands Immuno-Oncology Pipeline With RubrYc Deal - iBio (AMEX:IBIO)

iBio Inc IBIO has signed an exclusive license agreement with RubrYc Therapeutics Inc for RTX-003, an immunotherapy candidate targeting regulatory T cells (Tregs).
Related: IBio Adds Three Cancer Antibody Programs.
iBio plans to use its development and manufacturing capabilities to advance anti-CD25 antibody RTX-003 as IBIO-101 in the Phase 1 trial.
Initiation of IND-enabling studies is expected by mid-2022.
The partnership also includes an option agreement for iBio to license additional antibodies built using RubrYc's artificial intelligence-based antibody discovery platform.
As part of the agreements, iBio paid $5 million upfront, with an additional $2.5 million commitment for December 2021. iBio will also acquire an equity stake in RubrYc.
RubrYc is eligible to receive certain pre-specified payments upon achievement of development milestones for IBIO-101, as well as royalties on net sales of that molecule and other licensed antibodies.
Price Action: IBIO shares are up 1.98% at $1.28 during the market session on the last check Wednesday.