Otsuka Pharmaceutical Acquired iBio's Assets Related To Its Early-stage Programmed Cell Death Protein 1 Agonist Program; iBio Will Receive An Upfront Payment Of $1M And Is Eligible To Receive Additional Contingent Cash Payments Of Up To $52.5M
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Otsuka Pharmaceutical has acquired assets related to iBio's early-stage Programmed Cell Death Protein 1 (PD-1) agonist program. iBio will receive an upfront payment of $1M and is eligible for up to $52.5M in additional contingent cash payments.
February 26, 2024 | 12:48 pm
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iBio receives $1M upfront from Otsuka Pharmaceutical for PD-1 agonist program assets, with potential for additional $52.5M.
The acquisition deal with Otsuka Pharmaceutical provides iBio with an immediate financial boost of $1M and the potential for significant additional earnings up to $52.5M. This influx of cash could support iBio's other research initiatives or operational needs, making it a positive development for the company's financial health and potentially its stock price in the short term.
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