iBio and AstralBio Announce Transformative AI Drug Discovery Collaboration to Rapidly Develop Novel Antibodies for Obesity and Cardiometabolic Diseases
Portfolio Pulse from Benzinga Newsdesk
iBio, Inc. (IBIO) has announced a collaboration with AstralBio, Inc. to develop novel antibodies for treating obesity and cardiometabolic diseases. This follows iBio's recent $15 million private placement financing aimed at supporting new partnerships like the one with AstralBio.
March 27, 2024 | 11:06 am
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iBio, Inc. announces a significant collaboration with AstralBio to develop antibodies for obesity and cardiometabolic diseases, backed by a recent $15 million financing.
The collaboration with AstralBio represents a strategic move into the obesity and cardiometabolic disease market, a significant area of unmet medical need. The recent $15 million financing provides the necessary capital to support this venture, indicating a strong commitment to the collaboration's success. This news is likely to be viewed positively by investors, as it demonstrates iBio's proactive approach to leveraging its technology and financial resources to enter high-growth markets.
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