IBio, Inc. Appoints Randy J. Maddux as Chief Operating Officer, Effective December 1, 2020
November 03, 2020 at 07:47 am EST
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iBio, Inc. announced that Randy J. Maddux to serve as the Company’s Chief Operating Officer, effective December 1, 2020. Prior to joining company, Mr. Maddux, age 59, served as the Senior Vice President of Operations of Aptevo Therapeutics Inc. Mr. Maddux is a past member of the Life Sciences Foundation Board at Montgomery College. Mr. Maddux earned a Bachelors in Chemistry from East Carolina University and pursued post-graduate work in analytical chemistry before earning an MBA from the Fuqua School of Business at Duke University. Mr. Maddux is entitled to an annual base salary of $390,000, which will accrue starting on the Effective Date. He is also eligible to receive a signing bonus of $160,000 upon the Effective Date, which bonus will be paid within thirty days of the Effective Date.
iBio, Inc. is a preclinical stage biotechnology company that leverages artificial intelligence (AI) for the development of precision antibodies. The Company develops 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. Its StableHu technology is an AI-based tool designed to predict a library of antibodies with fully human Complementarity-Determining Region (CDR) variants based on an input antibody. It is in the process of building its preclinical pipeline, which focuses primarily on immuno-oncology. Its pipeline includes IBIO-101, Endostatin E4, TROP-2 x CD3, MUC16, EGFRvIII, and CCR8. IBIO-101 is an anti-CD25 monoclonal antibody (mAb) that has demonstrated in preclinical models of disease the ability to bind and deplete immunosuppressive regulatory T (Treg) cells to inhibit the growth of solid tumors.