Collaboration with GE Healthcare gets rolling
Today’s PR:
iBio to Join GE Healthcare Bioprocess Tour
Press Release Source: iBio, Inc. On Monday April 11, 2011, 12:21 pm
NEWARK, Del.--(BUSINESS WIRE)-- iBio, Inc. (NYSE AMEX:IBIO) today announced that Terence E. Ryan, Ph.D., iBio’s Senior Vice-President, will represent iBio in joint marketing presentations with representatives of GE Healthcare as part of the GE Healthcare Bioprocess Tour in Taipei, Shanghai and Beijing beginning today and extending through April 15. This series of presentations is the first international business development initiative under the joint marketing agreement announced September 1, 2010 by iBio, GE, and Fraunhofer USA Center for Molecular Biotechnology (CMB).
Dr. Ryan will describe the iBioLaunch™ Platform for the expression of recombinant proteins in whole plants for subunit vaccine and biotherapeutics applications, and scientists from the GE Healthcare site in Uppsala, Sweden will present their latest advances in downstream protein purification, highlighted by their advanced chromatography matrices and chromatographic equipment.
The iBioLaunch plant-based technology enables the production of vaccine and therapeutic proteins at substantially lower capital and operating costs than are possible with other technologies. GE Healthcare has developed solutions and offerings including those which enable customers to build processes and facilities based on single-use and ready-to-use technologies.
In the collaboration with iBio and CMB, GE Healthcare will supply bioprocessing products and process expertise for integration with the iBioLaunch platform. The manufacturing solutions covered by the agreement include product licenses, technology transfer services, design of upstream and downstream manufacturing processes; supplies of equipment, consumables and related validation support, construction of buildings, facility operations and related financial services.
September 1 PR:
iBio and Fraunhofer Execute Business Development and Marketing Agreement with GE Healthcare
NEWARK, DE, USA ; Uppsala, Sweden: September 1, 2010 – iBio, Inc. (OTCBB: IBPM), its development collaborator, Fraunhofer USA Center for Molecular Biotechnology (CMB), and GE Healthcare, a unit of General Electric Company (NYSE: GE), today announced their entry into an agreement to jointly develop and globally market manufacturing solutions for biopharmaceuticals and vaccines based upon their respective proprietary technologies.
Financial terms are not being disclosed.
This new business initiative combines the value of GE Healthcare’s capabilities and worldwide presence in life sciences, iBio’s highly efficient iBioLaunch™ plant-based vaccine and therapeutic protein manufacturing platform, and CMB’s advanced vaccine and molecular biology expertise.
iBioLaunch plant-based technology enables the production of vaccine and therapeutic proteins at substantially lower capital and operating costs than are possible with other technologies. GE Healthcare has developed solutions and offerings including those which enable customers to build processes and facilities based on single-use and ready-to-use technologies.
In this collaboration with iBio and CMB, GE Healthcare will supply bioprocessing products and process expertise for integration with the iBioLaunch platform. It will also support the development of products based on the IBioLaunch platform and product offering.
The manufacturing solutions covered by the agreement include product licenses, technology transfer services, design of upstream and downstream manufacturing processes; supplies of equipment, consumables and related validation support, construction of buildings, facility operations and related financial services.
“This is an exciting development in GE Healthcare’s strategy to deliver more efficient and costeffective biopharmaceutical and vaccine manufacturing technologies,” said Peter Ehrenheim, President and CEO, Life Sciences, GE Healthcare.
“We expect this relationship with GE Healthcare to accelerate and broaden market penetration for our technology through access to GE Healthcare’s existing relationships and its skill and experience with project implementation and process development,” said Robert B. Kay, Chairman and CEO of iBio. “This is another implementation of our model to affiliate and outsource with best-in-class collaborators like GE Healthcare and CMB as the fastest and lowest risk path to revenue growth.”
”We have already done considerable planning and work with GE Healthcare to prepare for implementation of this agreement,” said Dr. Vidadi Yusibov, Executive Director of CMB and Chief Scientific Officer of iBio. “Therefore, we expect this relationship to start quickly and continue long after its initial three-year term to provide important results for our collective customers as we combine GE Healthcare’s products, skills and relationships with the technology we developed and are implementing in our new Delaware facility.”
