On Aug. 28, 2020, iBio announced that it had entered into an exclusive worldwide license agreement with Planet Biotechnology for the development of Planetﾒs COVID-19 therapeutic candidate, ACE2-Fc.

ACE2-Fc is a recombinant protein comprised of human angiotensin converting enzyme 2 (ACE2) fused to a human immunoglobulin G Fc fragment (Fc). As an immunoadhesin, ACE2-Fc targets the coronavirus virions directly by using the ACE2 extracellular domain as a decoy to bind the spike protein and block infection of healthy cells, while the fused Fc domain prolongs the life of the protein in circulation. The design is expected to bring the benefit of a traditional neutralizing antibody while prospectively limiting the potential for “viral escape” given that ACE2 is also the target receptor for coronavirus for cell entry.  Planet’s in vitro studies demonstrated that its ACE2-Fc blocks SARS-CoV-2 virus from infecting Vero E6 cells.

Under the terms of the agreement, iBio obtained an exclusive license to Planet’s ACE2-Fc. Planet is eligible to receive certain pre-specified payments upon achievement of clinical development milestones.

iBio is a global leader in plant-based biologics manufacturing. Its FastPharming^® System combines vertical farming, automated hydroponics, and glycan engineering technologies to rapidly deliver high-quality monoclonal antibodies, vaccines, bioinks and other proteins.

The Company’s subsidiary, iBio CDMO, provides FastPharming Contract Development and Manufacturing Services. iBio’s FastGlycaneering Development Service™ includes an array of new glycosylation technologies for engineering high-performance recombinant proteins. Additionally, iBio is developing proprietary products, which include IBIO-100 for the treatment of fibrotic diseases, as well as vaccines and therapeutics for COVID-19 disease.