Texas CD­MO is cut­ting 60% of staff as fo­cus shifts to drug dis­cov­ery, in-house can­di­dates

In Sep­tem­ber, iBio paid a very af­ford­able price to gain ac­cess to an AI-based plat­form and new ther­a­peu­tic can­di­dates from the start­up RubrYc as the Texas CD­MO looks to dive fur­ther in­to drug dis­cov­er­ies. In its lat­est move, iBio is now jump­ing head­first in­to drug dis­cov­ery and the AI ap­proach with the com­pa­ny get­ting rid of its CD­MO arm.

The com­pa­ny an­nounced on Thurs­day that it will di­vest its CD­MO branch to form an “an­ti­body dis­cov­ery and de­vel­op­ment com­pa­ny.” The cash from the cost-sav­ings and pro­ceeds from the di­vesti­ture will be used to ad­vance its lead on­col­o­gy as­sets to the clin­ic and fur­ther de­vel­op the AI plat­form. The move will al­so be used to ex­tend the com­pa­ny’s cash in­to the first half of 2024.

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