The companies will use their combined capabilities for their respective portfolios, starting with an undisclosed monoclonal antibody for oncology indications, and will also make these capabilities available to third parties through licensing and partnering arrangements.
iBio will receive license and milestone fees for development of product targets selected by Caliber. Caliber will be responsible for funding clinical development and commercialization, and iBio will receive royalties on product sales and other revenues. Financial terms were not disclosed.
"This combination is a major advance for recombinant biopharmaceuticals," said Robert B. Kay, executive chairman and chief executive officer of iBio. "By bringing together our intellectual property, facilities, and know-how, we not only will accelerate and improve development of our own product pipelines, but also enable third-party developers and sponsors to access turn-key solutions for their product candidates through licenses and partnerships with us."
Dr. Rahul Singhvi, managing director of Caliber Biotherapeutics, said, "This new collaboration with iBio enables us to develop products addressing important unmet medical needs that uniquely benefit from plant-based expression technology. We are excited about combining our joint capabilities to create valuable products that would otherwise be commercially impossible to produce or develop.