iBio, Inc. (NYSEA:IBIO) ("iBio" or the "Company") announces today that it has entered into a collaboration agreement with AstralBio, Inc. ("AstralBio") to discover, engineer and develop novel antibodies to treat obesity and other cardiometabolic conditions.
Yesterday, iBio announced the closing of a $15 million private placement financing with ADAR1 Capital Management, Lynx1 Capital Management, Ikarian Capital and other institutional investors. The company will use a portion of the net proceeds to support new partnerships, such as this collaboration with AstralBio.