Ibio Inc (NYSEAMERICAN:IBIO) continues to gain momentum as the stock is heading for another green day after weekly jump of 4%.
Major Trigger:
iBio Further Strengthens Board with Appointment of Veteran Biopharmaceutical Executive, Eef Schimmelpennink
Key Highlights:
- announced the appointment of Evert (Eef) Schimmelpennink to its Board of Directors, effective immediately.
- In an executive leadership career spanning more than 20 years, Mr. Schimmelpennink has applied his strategic and functional expertise across corporate development, commercial operations, manufacturing, and R&D to help build and scale a number of global public and private biopharmaceutical businesses.
- Recently, he served as CEO of Pfenex Inc., a NYSEA-listed company which, using its patented Pfēnex Expression Technology® platform, created an advanced pipeline of therapeutic equivalents, vaccines, biologics and biosimilars. Pfenex was acquired by Ligand Pharmaceuticals Incorporated for approximately $516 million (including contingent value rights) in October 2020.
Key Quote:
“Eef has a strong history of success leading companies with novel protein expression platforms to develop and commercialize biopharmaceutical products,” said Tom Isett, Chairman & CEO of iBio. “He is joining our team at an opportune time, given we are adding our own in-house drug discovery capabilities to our existing contract development and manufacturing services, similar to what Eef did in his most recent leadership role at Pfenex.”
Market Reaction
As of 7:37, IBIO stock is higher by 2.68% at $1.53. The stock has traded 2.2K shares so far in the pre-market session.
