Ibio Helps US Government Control Ebola Outbreak
Ibio Helps US Government Control Ebola Outbreak
Ibio was up 15% during extended trading on the announcement that it will provide the US government with its iBioLaunch technology to ramp up Ebola drug production
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Published: October 17, 2014 at 7:29 am ESTBy: Hannah Ishmael
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Ibio Inc (IBIO) traded up 15% during extended trading yesterday following the announcement that it had offered its proprietary antibody technology, iBioLaunch, to the US government to help fight the Ebola outbreak.
The technology is meant for emergency use to optimize the manufacturing process of certain experimental antibody-based drugs that are being given to Ebola victims.
Yesterday’s announcement was the company’s response to shareholders and media’s questions regarding its contribution toward controlling the spread of the virus in the US, Europe, and West Africa.
Ibio stock was up 36% during trading yesterday, and about 30 million shares were traded, compared to a 30-day average trading volume of only 2.8 million shares.
Ibio And Caliber Biotherapeutics
Ibio also highlighted its licensing and collaboration agreement with Caliber Biotherapeutics in a press release. Both companies have been working together since February last year to exploit commercial opportunities to produce “recombinant antibodies” and antibody-related proteins.
Caliber Biotherapeutics has the world’s largest facility to produce drugs from tobacco plants. Ibio’s iBioLaunch technology, on the other hand, is capable of producing pharmaceutical proteins in plants with speed and efficiency, along with providing greater cost advantages over bioreactor-based manufacturing systems.
The Trio: Ibio, Caliber Biotherapeutics, And Mapp Biopharmaceutical
Mapp Biopharmaceutical has developed a drug called ZMapp, which has proven to be effective in treating the Ebola virus that has killed about 4,000 people so far. The drug is manufactured using tobacco plants, and has been administered to two Ebola-afflicted Americans, a Spanish priest, and three Liberian health workers. It is one of the most advanced anti-Ebola drugs to have been produced so far. Its supply, however, has been exhausted.
Caliber Biotherapeutics’ facility can be used to produce 25 to 75 kilograms of ZMapp per annum, according to estimates reported by Bloomberg. It is difficult to manufacture the drug in large quantities because it is a cocktail of three antibodies, which requires triple the amount of tobacco plants as compared to normal drugs. The dosage of ZMapp demanded by victims is also higher compared to other drugs, which further necessitates higher supply of the drug.
Investors are expecting iBioLaunch technology to speed up ZMapp’s production, which is the primary reason behind the surge of about 174% in Ibio stock over the past one month.
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NASDAQ DIP and RIP
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I was born with it, I'm truly blessed!
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