On Apr. 9, 2020, iBio announced the signing of two agreements with the Infectious Disease Research Institute (IDRI) in support of iBio’s SARS-CoV-2 Virus-Like Particle vaccine development. IDRI, located in Seattle, will support pre-clinical development and provide clinical trial oversight, while iBio will provide process development and manufacturing services to IDRI in support of iBio’s SARS-CoV-2 Virus-Like Particle (“VLP”) vaccine development.

Under the MSAs, IDRI will support pre-clinical development and provide clinical trial oversight, while iBio will provide process development and manufacturing services to IDRI, as needed. Additionally, the MoU calls for iBio and IDRI to establish a separate, additional agreement within the next 60 days if the Company opts to include one of IDRI’s novel adjuvants in the COVID-19 vaccine development program (“IBIO-200”). The MSAs and the MoU integrate IDRI into iBio’s collaboration with the Texas A&M University System to create a strong partnership that brings deep experience and advanced technologies and capabilities to the task of moving IBIO-200 into the clinic.

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 gram quantities of high-quality monoclonal antibodies, vaccines, bioinks and other proteins. The Company’s subsidiary, iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services via its 130,000 square foot facility in Bryan, Texas. Originally built in 2010 with funding from the U.S. Defense Advanced Research Projects Agency (DARPA)