iBio Appoints Dr. Martin Brenner as CEO, Felipe Duran as CFO to Oversee Company’s Next Stage of Growth
27 Giugno 2023 - 2:00PM
iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), an AI-driven
innovator of precision antibody immunotherapies, today announced
the appointments of Martin Brenner, DVM, Ph.D. as Chief Executive
Officer; and Felipe Duran as Chief Financial Officer, effective
immediately. Dr. Brenner will also continue to serve as iBio's
Chief Scientific Officer, a role he has held since December 2020.
The permanent appointments reflect the Board of
Directors’ confidence in Dr. Brenner and Mr. Duran, who have
respectively served as iBio’s interim CEO and CFO since early 2023,
to complete the strong management team required to lead the Company
in its next stage of growth.
Chip Clark, Chairman of iBio’s Board, commented,
“Since stepping into their interim leadership roles at the
beginning of the year, Martin and Felipe have overseen key
developments advancing iBio’s AI-powered biotech strategy,
including the discovery of bispecific immuno-oncology therapies and
the expansion of our tech stack with the launch of EngageTx™.
Martin and Felipe are the right people to lead iBio. On behalf of
everyone at iBio, I would like to congratulate Martin and Felipe on
their permanent appointments as we enter a new and exciting phase
in the Company’s growth story.”
Dr. Brenner has successfully led drug discovery
and development teams at several of the world’s leading
pharmaceutical companies, including AstraZeneca, Eli Lilly and
Company, Pfizer Inc., and Merck Research Laboratories. He most
recently served as the CSO at Pfenex Inc., which used its patented
Pfenex Expression Technology® platform to create an advanced
pipeline of therapeutic equivalents, vaccines, biologics and
biosimilars; and was acquired in October 2020 by Ligand
Pharmaceuticals Incorporated for a total value of up to $516
million. Dr. Brenner previously served as the CSO at Recursion
Pharmaceuticals, Inc., a company focused on combining automation,
machine learning, and artificial intelligence to rapidly identify
potential treatments for numerous diseases; and Vice President and
Head of Research & Early Development at Stoke Therapeutics,
Inc., a biotechnology company targeting specific RNA sequences to
increase the expression of proteins in the body to treat genetic
diseases. Dr. Brenner earned his DVM at the Ludwig Maximilian
University of Munich and his Ph.D. in Pharmacology at the
Veterinary School of Hannover in Hannover, Germany. He received the
Lilly Endocrine Research Award of Merit for Science, as well as the
Lilly Pinnacle Award for Quality for Good Research Practice.
Prior to serving as the Company’s Interim Chief
Financial Officer, Mr. Duran was iBio’s Vice President of Financial
Planning and Analysis (“FP&A”) from April 2021 to February
2023, where he played a strategic role in the Company’s
forecasting, business planning, management reporting, and business
analytics activities. He previously served as the Executive
Director (CFO), of Lupin Latin America, a subsidiary of Lupin
Pharmaceuticals, the third-largest generic pharmaceutical company
in the United States. During his tenure at Lupin, Mr. Duran
functioned as a key member for the Latin American executive team,
supporting both Mexico and Brazil. During his tenure he implemented
robust commercial pricing strategies and increased regional net
sales by double digits. He also spearheaded a turnaround of a Lupin
subsidiary, transforming it to an EBITDA-positive business; and ran
the U.S. R&D finance group, managing and providing guidance on
strategy and pipeline. He previously held numerous strategy
positions at Teva Pharmaceuticals in both its growth markets and
Latin America offices; and worked as a Manager, FP&A for both
Bupa and Noven Pharmaceuticals. Mr. Duran holds a B.A. in Finance
and an M.B.A from the University of Miami.
About iBio, Inc.
iBio develops next-generation biopharmaceuticals
using computational biology and 3D-modeling of subdominant and
conformational epitopes, prospectively enabling the discovery of
new antibody treatments for hard-to-target cancers and other
diseases. iBio’s mission is to decrease drug failures, shorten drug
development timelines, and open up new frontiers against the most
promising targets. For more information, visit www.ibioinc.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release
constitute "forward-looking statements" within the meaning of the
federal securities laws. Words such as "may," "might," "will,"
"should," "believe," "expect," "anticipate," "estimate,"
"continue," "predict," "forecast," "project," "plan," "intend" or
similar expressions, or statements regarding intent, belief, or
current expectations, are forward-looking statements. These
forward-looking statements are based upon current estimates and
assumptions and include statements regarding the contributions to
be made by Dr. Brenner and Mr. Duran and using AI technology to
enrich the Company’s pipeline and the development of superior
therapeutics. While the Company believes these forward-looking
statements are reasonable, undue reliance should not be placed on
any such forward-looking statements, which are based on information
available to us on the date of this release. These forward-looking
statements are subject to various risks and uncertainties, many of
which are difficult to predict that could cause actual results to
differ materially from current expectations and assumptions from
those set forth or implied by any forward-looking statements.
Important factors that could cause actual results to differ
materially from current expectations include, among others, the
ability of the management team to successfully use the Company’s AI
technology to enrich the pipeline and develop superior products;
and the other factors discussed in the Company’s filings with the
SEC including the Company’s Annual Report on Form 10-K for the year
ended June 30, 2022 and the Company’s subsequent filings with the
SEC on Forms 10-Q and 8-K. The information in this release is
provided only as of the date of this release, and the Company
undertakes no obligation to update any forward-looking statements
contained in this release on account of new information, future
events, or otherwise, except as required by law.
Contacts:
Stephen KilmeriBio, Inc.Investor Relations(646)
274-3580skilmer@ibioinc.com
Susan ThomasiBio, Inc.Media Relations(619)
540-9195Sthomas@ibioinc.com
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