Ibio Inc (NYSEMKT:IBIO) announced it has received new patents for its protein expression technology. The company specializes in plant based biotechnology that is used to develop and manufacture biological products. The patents are for its plant viral vector-based protein expression technologies in Europe and the US.
The new technology patents protect the company’s commercial interests in the development of antibody products. Some of the products are intended for Brazil and Ibio Inc (NYSEMKT:IBIO) looks to capitalize on unique opportunities in the region. The others are intended for the US, Europe and Japan.
Two Important Patents
The patents are titled System for Expression of Genesis in Plants and feature expressions for polynucleotides. These are the key to discovering protein encodings in the plants. Ibio Inc (NYSEMKT:IBIO)’s iBioLaunch platform is a proprietary and addresses key development issues for recipients and users. This improves vaccines and also produces a higher potency in the medicines.
The companyhad also recently announced that it had received a patent for its iBioModulator. A recent review in a scientific journal featured an industry peer touting the benefits of the iBioModulator portfolio. This portfolio is focused around potential bioterrorism weapons and is critical to the defense of such.
Ibio Inc (NYSEMKT:IBIO) is defending itself over a class action suit relating to its announcements surrounding its proprietary technology of the Ebola drug, ZMapp. The suit alleges that when the truth came out about the products development it caused shareholders to unfairly lose major value. The suit is not resolved but the company remains confident it can adequately defend itself. The suit was filed in the state of Delaware where Ibio Inc (NYSEMKT:IBIO) was incorporated. US based news show 60 Minutes recently featured a story about the ZMapp product bringing good exposure to the stock and causing a temporary rise.
The stock moved quickly on the 60Minutes story but has found resistance at $1.25. The pop helped it repair some of the technical damage the lawsuit created but still has some work to do. The first being to take out hard resistance at this level.