iBio CEO Thomas Isett Resigns

BRYAN, Texas, Dec. 02, 2022 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, today announced the Board of Directors and Thomas F. Isett, the Company’s Chief Executive Officer, have agreed that Mr. Isett will resign as a member of the Board and relinquish his duties, rights and obligations as an officer and CEO of the Company, effective immediately. While the Company continues its search for a successor, the leadership team will report to the current Chair of the Board, William (Chip) Clark.

“Tom has helped iBio’s transformation into an AI-powered antibody discovery and development organization,” said Mr. Clark. “Tom’s leadership in the establishment of a portfolio of drug candidates, the acquisition of RubrYc’s proprietary drug discovery engine, building the leadership team, and reshaping our Board of Directors has us positioned for our next chapter.”

“It has been gratifying to have helped iBio through this dynamic and pivotal period of change,” said Mr. Isett. “I am confident the Company is in good hands. Many thanks and best wishes for everyone at iBio in the continuing journey to help bring new and better treatments to people suffering with cancer.”

About iBio, Inc.

iBio develops next-generation biopharmaceuticals using computational biology and 3D-modeling of subdominant and conformational epitopes, prospectively enabling the discovery of new antibody treatments for hard-to-target cancers and other diseases. iBio’s mission is to decrease drug failures, shorten drug development timelines, and open up new frontiers against the most promising targets. For more information, visit www.ibioinc.com.