CDMO makes an AI and drug discovery play in latest, small-time acquisition

The CDMO outfit iBio has netted a deal that sees it gain access to an AI-based platform as well as new therapeutic candidates as it looks to dive further into drug discovery.

iBio closed on acquiring several assets from the San Diego-based biotech RubrYc Therapeutics, snapping up several oncology programs. The cost includes a $1 million upfront payment as well as the ability of RubrYc’s investors to receive up to $5 million in milestones over the next several years.