iBio collaborates with Brazil's Fiocruz/Bio-Manguinhos for new vaccines

19 January 2011

US biotech firm iBio (NYSE AMEX: IBIO) has granted a commercial, royalty-bearing license to Brazil’s Oswald Cruz Foundation (Fiocruz) and its Bio-Manguinhos unit to develop, manufacture and sell certain vaccines based upon iBio’s proprietary technology. Fiocruz is a central agency of Brazil’s Ministry of Health.

Fiocruz/Bio-Manguinhos will invest more than $6 million to bring the first product - a new yellow fever vaccine - through Phase I clinical trials. Product development will be performed through a commercial collaboration among iBio, Fiocruz/Bio-Manguinhos and iBio’s research and development collaborator, the Fraunhofer USA Center for Molecular Biotechnology (FCMB).

The license covers the nations of Latin America, the Caribbean and Africa. iBio retains the right to sell the products developed under the license and collaboration agreement in any other territory with a royalty back to Fiocruz/Bio-Manguinhos

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