What iBio does

iBio, Inc. is a clinical-stage biotechnology company that discovers and develops precision antibody therapeutics using a proprietary AI-driven discovery platform. The company, headquartered in San Diego, California and listed on NASDAQ (IBIO), was originally a contract development and manufacturing organization (CDMO) before pivoting to focus on AI-enabled antibody discovery for obesity, cardiometabolic disease, and oncology.

The company's core technology stack integrates three proprietary components: (1) Epitope Steering, a patented AI engine that engineers and directs antibody binding to defined functional regions on target proteins; (2) StableHu, a generative AI tool trained on over one billion human antibody sequences that predicts optimized CDR variants for humanization, stability, and developability; and (3) mammalian display-based multidimensional screening for simultaneous optimization of affinity, specificity, and half-life. Additional platform assets include EngageTx (CD3 T-cell engager panel for bispecific oncology antibodies) and ShieldTx (conditionally activated antibody masking for improved safety). The platform is reported to enable progression from concept to development-ready antibody in approximately seven months. Lead clinical asset IBIO-600, an anti-myostatin monoclonal antibody for obesity and cardiometabolic disease, entered Phase 1 dosing in June 2026 following Australian TGA approval. Preclinical lead IBIO-610 (Activin E antibody) targets fat-selective weight loss with predicted twice-yearly human dosing. Additional programs include a myostatin x activin A bispecific, an anti-CD25 antibody (IBIO-101), TROP-2 x CD3 and MUC16 bispecifics for oncology, and an amylin receptor agonist program.

iBio has no current product revenue and is funded primarily through equity financings. The company closed approximately $50 million in an August 2025 public offering and approximately $26 million in a January 2026 private placement led by Frazier Life Sciences, with cash of approximately $74.8 million as of Q3 FY2026 extending runway into calendar 2028. Revenue economics are expected to derive from future product sales, out-licensing of platform technologies and pipeline assets (e.g., AstralBio collaboration), or partnership deals with larger pharmaceutical companies. The primary customer segment is patients with obesity and cardiometabolic disease underserved by current GLP-1 therapies, with the company also pursuing strategic collaborations with pharmaceutical partners in immunology, infectious disease, and oncology.

Name

iBio

Legal name

iBio, Inc.

Website

https://ibioinc.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

iBio is a clinical-stage biotech developing AI-designed antibody therapeutics for obesity, cardiometabolic disease, and oncology, with lead asset IBIO-600 in Phase 1 trials and IBIO-610 in late preclinical development. The company is pre-revenue, publicly listed on NASDAQ, and funded through equity financings.

Ownership category

akta.pro rank

Product category

Biopharmaceutical Drug Development

SIC

In Vitro & In Vivo Diagnostic Substances (2835)

akta.pro primary industry

High-Throughput Screening & Assay Platforms (HTS/HCS, phenotypic screening) (HLAAAIAA)

akta.pro secondary industry

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB)

Keywords

• AI antibody discovery
• Antibody therapeutics
• Obesity drug development
• Cardiometabolic biologics
• Biopharmaceutical pipeline

Headquarters

HQ city

Newark

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Biopharmaceutical Development & Commercialization: iBio is a preclinical-stage biotech company with no current product revenue. The company is developing a pipeline of antibody therapeutics (IBIO-600, IBIO-610, bispecific programs) targeting obesity and cardiometabolic diseases. Revenue would be generated through eventual product sales upon regulatory approval or through licensing/partnership deals with larger pharmaceutical companies.
2. Strategic Licensing & Partnership Deals: The company generates value and potential revenue through licensing its technology platform and pipeline assets to pharmaceutical partners. The company has formed collaborations with AstralBio for multi-target obesity programs, with options to license targets. iBio also out-licenses platform technologies (AI epitope steering, EngageTx, ShieldTx) in therapeutic areas outside its core focus.
3. Financing / Capital Markets: As a preclinical biotech with no product revenue, the company funds operations through equity financings including private placements, public offerings, and warrant exercises. Recent financings include a $50M public offering (August 2025), $26M private placement (January 2026), and $15M private placement (March 2024).

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

iBio is a clinical-stage biotechnology company that discovers and develops precision antibody therapeutics for obesity and cardiometabolic diseases using an integrated AI Drug Discovery Platform. The platform combines Epitope Steering AI, StableHu generative AI antibody optimization, and mammalian display screening to engineer antibodies against hard-to-drug targets. Lead programs include IBIO-600 (anti-myostatin antibody in Phase 1) and IBIO-610 (Activin E antibody in late preclinical), with additional oncology bispecific programs.

Product overview

iBio is a preclinical-stage biotech company developing a pipeline of next-generation antibody therapeutics for obesity, cardiometabolic diseases, and cancer using an integrated AI Drug Discovery Platform. The platform combines three core technology components: Epitope Steering (AI-powered epitope targeting), StableHu (generative AI antibody optimization), and mammalian display-based screening. The company's lead clinical candidate IBIO-600 (anti-myostatin antibody for muscle preservation in obesity) entered Phase 1 trials in 2026. IBIO-610 (Activin E antibody for fat-selective weight loss) is in late preclinical stage with clinical trials expected in 2027. Additional programs include a myostatin x activin A bispecific antibody, bispecific T-cell engagers (EngageTx) for cancer, and masked antibody technology (ShieldTx) for improved safety. Partnered programs include Amylin receptor agonists and multiple obesity targets via AstralBio collaboration.

Differentiator

Problem solved

Functional benefit

Products and services

• AI Drug Discovery Platform Integrated AI-powered platform combining epitope engineering, StableHu antibody optimization, and mammalian display screening for discovering and developing precision antibodies against hard-to-drug targets. Enables progression from concept to development-ready antibody in approximately seven months. Sold/licensed to pharmaceutical partners.
• Epitope Steering Technology Patented AI engine that directs antibody binding to precisely defined functional regions (epitopes) on target proteins. Enables creation of antibodies with complex modes of action against previously undruggable targets including GPCRs and TGF-beta family proteins. Out-licensed to pharmaceutical partners in therapeutic areas outside iBio's core focus.
• StableHu AI Antibody Optimization Generative AI tool that predicts optimized human antibody CDR sequences and optimizes antibodies for expression, stability, and manufacturability. Trained on over 1 billion human antibody sequences. Provides focused library diversity for mammalian display optimization.
• EngageTx CD3 T-Cell Engager Panel Next-generation CD3 antibody panel with wide range of potencies, NHP cross-reactivity, enhanced humanness, and strong tumor-killing activity with reduced cytokine release. Used for developing bispecific T-cell engagers for cancer treatment. Out-licensed to pharmaceutical partners.
• ShieldTx Antibody Masking Technology Antibody masking technology that creates conditionally activated antibodies, keeping them inactive until reaching diseased tissue where masks are cleaved off by tissue-specific enzymes. Broadens therapeutic window and improves safety profiles. Out-licensed to pharmaceutical partners.
• IBIO-600 Long-acting anti-myostatin monoclonal antibody designed to preserve lean mass and improve body composition in obesity patients. Targets myostatin and GDF11, engineered for infrequent dosing (2-4 times per year). Entered Phase 1 clinical trial in June 2026 for adults with overweight/obesity.
• IBIO-610 Activin E antibody for fat-selective weight loss and weight maintenance. Demonstrated 26% reduction in fat mass with no lean mass loss in preclinical studies. Extended half-life of up to 100 days in non-human primates, supporting twice-yearly dosing. Development candidate with clinical trials expected in 2027.
• Myostatin x Activin A Bispecific Antibody Bispecific antibody simultaneously targeting myostatin and Activin A to maximize lean mass preservation. In late discovery stage with multiple parameters being optimized. Showed stronger differentiation of progenitor cells into mature muscle cells compared to single-target antibodies.
• IBIO-101 Second-generation anti-CD25 monoclonal antibody for immuno-oncology, designed to deplete immunosuppressive regulatory T cells while preserving interleukin-2 signaling in effector T cells. Addresses key limitations of first-generation anti-CD25 therapies.
• TROP-2 x CD3 Bispecific Antibody Bispecific antibody developed with EngageTx platform to selectively kill TROP-2-expressing tumors while minimizing cytokine release. TROP-2 is highly expressed in breast, lung, colorectal, and pancreatic cancers. Demonstrated 36% tumor size reduction in preclinical studies.
• MUC16 Antibody Program Antibody targeting non-shed, non-glycosylated region of MUC16 to avoid tumor immune evasion mechanisms. MUC16 is overexpressed in multiple solid tumors including over 80% of ovarian cancers. Lead molecules selectively bind engineered epitope and tumor cells.
• CCR8 Antibody Program Anti-CCR8 antibodies with high specificity for depleting immunosuppressive tumor-associated regulatory T cells while sparing CCR4-expressing cells. Demonstrated 22% tumor size reduction in colon cancer mouse model.
• Amylin Receptor Agonist Program Antibody-based amylin receptor agonist developed in collaboration with AstralBio for long-term weight regulation. Early DACRA-like agonist antibody showed approximately 60% reduction in acute food intake in preclinical studies.

Quantifiable outcome

• IBIO-610 demonstrated 8.9% body weight reduction vs baseline and placebo in DIO mouse model with 26% fat mass reduction and no measurable lean mass loss
• +4 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature6 records

Partnerships

One partnership is on record.

• AstralBio, Inc.coreStrategic or Co-development Partner · 27 March 2024Discovery, Option and License Agreement entered March 27, 2024 for multi-target collaboration focused on genetically validated pathways in obesity and cardiometabolic disease. iBio granted exclusive license to its AI-powered technology to identify and engineer four targets, with options to license three obesity/cardiometabolic targets from AstralBio. Collaboration expanded in April 2025 to add a fifth target. iBio exercised options for exclusive licenses to IBIO-600 (myostatin, December 2024) and IBIO-610 (Activin E, January 2025 / April 2025), securing worldwide development and commercialization rights for both assets.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Eli Lilly: Dominant incumbent in obesity with Mounjaro/Zepbound (tirzepatide) and next-gen candidates (retatrutide). Broad incumbent defining the competitive context for iBio's muscle-preservation obesity programs and the most likely strategic acquirer/licensing partner.
• Schrödinger: Public computational drug discovery platform serving pharma clients with physics-based and AI molecular design across small molecules and biologics. Broader incumbent in computational/AI drug discovery with established software-plus-services business model.

Emerging players

• BioAge Labs: Clinical-stage biotech developing therapeutics for metabolic diseases including obesity, with a focus on muscle biology and aging-related pathways. Comparable emerging obesity/cardiometabolic player with overlapping target rationale (myostatin/Activin biology).
• Compass Therapeutics: Clinical-stage biotech developing bispecific antibodies for oncology, including T-cell engagers. Comparable to iBio's EngageTx CD3 platform and bispecific oncology pipeline (TROP-2 x CD3).
• Structure Therapeutics: Clinical-stage company developing oral small molecules for cardiometabolic diseases including obesity and GLP-1 receptor agonists. Targets overlapping obesity patient population with a complementary (oral small molecule) modality.
• Crinetics Pharmaceuticals: Public endocrine disease biotech with peptide platform advancing programs in acromegaly and obesity. Comparable clinical-stage obesity/cardiometabolic player, though differentiated by small molecule/peptide modality versus iBio's biologics.

Direct peers

• Generate Biomedicines: AI-driven generative biology company developing novel protein therapeutics, including antibodies. Operates a similar AI-first antibody/protein engineering platform paradigm with comparable therapeutic ambitions across cardiometabolic and oncology indications.
• AbCellera Biologics: Public antibody discovery platform company combining AI/machine learning with single-cell screening for therapeutic antibody discovery. Directly comparable to iBio's StableHu + mammalian display approach and serves similar biopharma partners.
• Adagene: Clinical-stage AI-powered antibody discovery and engineering company using computational biology platforms to design antibodies with conditional activation (POWER platforms). Direct peer to iBio's ShieldTx masking and epitope steering approaches.
• BigHat Biosciences: AI/ML-guided antibody design platform combining machine learning with wet-lab validation, including mammalian display. Direct peer to iBio's StableHu + mammalian display technology stack targeting hard-to-drug proteins.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ibio-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds9 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about iBio