Shares of iBio Inc. (NYSE: IBIO) saw a remarkable surge of 137.27% in pre-market trading, reaching $1.78 per share at last check. The spike followed the announcement of the company’s latest program, which utilizes precision antibody immunotherapies and is driven by artificial intelligence technology. This exciting news appears to have generated strong investor interest in iBio, leading to a significant increase in the company’s stock value ahead of regular market hours.
Which program has IBIO announced?
Yesterday, iBio Inc (IBIO) announced its latest immune-oncology program, which targets MUC16, a well-known protein that is often overexpressed in various types of solid tumors, including ovarian, lung, and pancreas cancers. Specifically, MUC16 is a large extracellular protein that is expressed in over 80% of ovarian tumors.
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However, tumor cells can evade immune attacks by shedding or glycosylating MUC16, making it challenging for traditional antibody therapies to effectively target and destroy cancer cells. By targeting MUC16, iBio Inc aims to develop a novel approach to treat solid tumors that have been resistant to traditional antibody therapies.
iBio Inc has developed a novel approach to combat cancer using its patented epitope steering AI platform. The platform enables iBio’s new monoclonal antibodies (mAbs) to bind to a particular region of MUC16, which is not shed or glycosylated. This circumvents tumor evasion mechanisms and provides a potent tool to fight against cancer.
The specificity of iBio’s targeting of the patho-physiologically relevant region of MUC16 demonstrates the versatility of their AI technology. This success further reinforces iBio’s ability to apply its patented epitope steering technology to a broad range of targets. The company has developed differentiated antibodies for a growing list of target classes, making their technology a promising option for the treatment of various diseases.
How IBIO remained progressing?
iBio Inc (IBIO) has significantly expanded its Immuno-Oncology Portfolio with the inclusion of the MUC16 program. This new addition perfectly complements the company’s Treg-depleting programs, namely IBIO-101 and CCR8, as well as their tumor-specific EGFRvIII protein targeting program. This expansion showcases iBio Inc’s commitment to advancing its portfolio of promising immunotherapies, which aim to enhance the immune system’s ability to combat cancerous tumors. With the MUC16 program on board, IBIO is positioned to make significant strides in the field of Immuno-Oncology and better serve patients in need.
