Benzinga | Nov 17, 2021 04:33PM EST

Independent Proxy Advisory Firm, Glass Lewis, Recommends iBio Shareholders Vote "FOR" All Proposals Ahead Of Annual Meeting

iBio, Inc. (NYSEA:IBIO) ("iBio" or the "Company"), a developer of next-generation biopharmaceuticals and pioneer of the sustainable, plant-based FastPharming Manufacturing System(r), announced today that Glass Lewis and Co., LLC ("Glass Lewis"), a leading independent provider of proxy research and vote recommendations to the investment community, has recommended that the Company's stockholders vote "FOR" all proposals put forth in the definitive proxy statement prior to its Annual Meeting of Stockholders to be held on December 9, 2021.



In recommending stockholders vote "FOR" Proposal 4, Glass Lewis noted1:

* "We agree with the board that it is in the best interest of the Company to reduce the number of shares of common stock outstanding and thereby attempt to proportionally raise the per share price of the Company's common stock."

* "A higher stock price may help to increase investor interest, attract and retain employees and improve the Company's ability to raise additional capital through equity offerings."

Tom Isett, Chairman & CEO of iBio, commented, "We greatly appreciate this third-party, independent recommendation from Glass Lewis. By approving all of the proposals on the agenda for the upcoming 2021 Annual Meeting, our shareholders will be helping us realize our vision of changing the biologic drug manufacturing paradigm with the FastPharming System and, as importantly, take advantage of the tremendous opportunities we see ahead for addressing major unmet medical needs in oncology, as well as fibrotic and infectious diseases."

iBio urges stockholders to vote today to support our strategic growth plans. Your vote is important, no matter how many or few shares it represents.

If you have questions, or need assistance in voting your shares, please contact Okapi Partners at 1-844-203-3605 (toll-fee in the U.S. and Canada), or +1-212-297-0720 (international), or by email at info@okapipartners.com.