---
schema_version: "secwatch.filing_event.v1"
accession: "0001420720-24-000012"
form_type: "8-K"
ticker: "IBIO"
cik: "0001420720"
company_name: "iBio, Inc."
filed_at: "2024-02-26T23:59:59+00:00"
generated_at: "2026-06-05T14:55:05.253013+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# iBio sells PD-1 agonist program to Otsuka for $1M upfront; up to $52.5M milestones

## Summary
- Otsuka acquired iBio's PD-1 agonist assets; $1M cash at closing, up to $52.5M in development and commercial milestones.
- iBio originally acquired the PD-1 assets from RubrYc Therapeutics in September 2022; no related milestone obligations.
- Deal closes Feb 25, 2024; iBio will redirect resources to its proprietary immuno-oncology pipeline and AI platform.
- PD-1 agonists target autoimmune diseases; CEO Martin Brenner calls transaction a win-win and non-dilutive capital source.

## SEC filing metadata
- accession: 0001420720-24-000012
- form_type: 8-K
- ticker: IBIO
- cik: 0001420720
- company_name: iBio, Inc.
- filed_at: 2024-02-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1420720/000142072024000012/0001420720-24-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1420720/000142072024000012/ibio-20240226x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001420720-24-000012
- JSON: https://secwatch.observer/filing/0001420720-24-000012.json
- Plain text: https://secwatch.observer/filing/0001420720-24-000012.txt

## Key facts
- M&A Transactions
  iBio, Inc. completed a disposition involving Otsuka Pharmaceutical Co., Ltd. for $1,000,000 paid at closing (closed 2024-02-25).
  - Action: disposition
  - Counterparty: Otsuka Pharmaceutical Co., Ltd.
  - Consideration: $1,000,000 paid at closing
  - Closing: 2024-02-25
  source text: and assumed, all intellectual property rights directly related to the Company’s PD-1 agonist assets (the “PD-1 Assets”) developed or held for development in consideration of $1,000,000 paid at closing (the “Closing Consideration”). The Purchase Agreement also provides for a potential contingent payment of $2,500,000 upon the achievement of specified
  evidence_url: https://www.sec.gov/Archives/edgar/data/1420720/000142072024000012/0001420720-24-000012-index.htm
- Material Agreements
  iBio, Inc. entered into Asset Purchase Agreement with Otsuka Pharmaceutical Co., Ltd. valued at $1,000,000 paid at closing (effective 2024-02-25).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Otsuka Pharmaceutical Co., Ltd.
  - Value: $1,000,000 paid at closing
  - Effective: 2024-02-25
  source text: On February 25, 2024, iBio, Inc. (the “Company”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Otsuka Pharmaceutical Co., Ltd. (“Otsuka”) pursuant to which the Company sold and assigned to Otsuka, and Otsuka purchased and assumed, all intellectual property rights directly related to the Company’s PD-1 agonist assets (the “PD-1 Assets”) developed or held for development in consideration of $1,000,000 paid at closing (the “Closing Consideration”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1420720/000142072024000012/0001420720-24-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.