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In the initial days of the coronavirus pandemic, plenty of little known companies came into focus and one such company was Ibio Inc (NYSEAMERICAN:IBIO). It would not be uncharitable to say that beyond some biotech sector investors, not many had heard about the company before the coronavirus pandemic. The stock soon rallied strongly on the back of FastPharming, its proprietary production process.

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The iBio stock came into prominence some months ago as the United States government started pushing for a vaccine. Many biotech stocks rallied due to a range of reasons. However, iBio stood out from the crowd since the FastPharming technology. In essence, it is a plant-based protein production process.

There are certain distinct advantages of FastPharming that made the iBio stock a compelling prospect. First and foremost, it can significantly reduce the timeline of going to the clinic and on top of that, the company also stated that it can accelerate the development of vaccines as well.

The company claimed that in a matter of three weeks, FastPharming can move from gene sequencing to the production of proteins. These claims eventually led to a lot of buzz about the iBio stock and naturally, the stock rallied as investors piled on to it.

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No Proof Yet

While investors seemed to have got excited about by the promise of the technology, iBio still needed to provide proof that its plant-based vaccine production process actually worked.

However, the company tried plenty of times and failed to provide any proof of the concept this far. After the FastPharming process could not be proven as a practical concept, the iBio stock naturally tanked as well. 

The stock has failed to draw the sort of action that it did earlier this year and since the early days of September, it has remained largely flat. Barring a few temporary spikes there has not been anything notable in the price action of the iBio stock.

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New Agreement

Although iBio has not managed to prove the concept with regards to FastPharming, earlier this month the company signed an agreement with Safi Biosolutions.

It was announced that the two parties signed a Master Services Agreement (MSA), by way of which Safi is going to evaluate the possible use of FastPharming in developing proteins meant for cell therapy products.

It is a significant development for iBio and it remains to be seen if the company manages to get any breakthrough in this evaluation from Safi.

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