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iBio Strengthens Clinical Leadership with Appointment of Endocrinologist Molly Carr as Chief Medical Officer

IBIO
  • iBio, Inc. appointed Molly Carr, M.D., as Chief Medical Officer to lead global clinical strategy, medical affairs, and regulatory initiatives.
  • Dr. Carr brings over 30 years of experience in endocrinology & metabolic disease, previously serving at Eli Lilly, GlaxoSmithKline, CSL Behring, Wyeth, Northwestern University, & the University of Washington.
  • Most recently, Dr. Carr was Clinical Head & Associate Vice President of Eli Lilly's Insulin & Glucagon Franchise, overseeing insulin portfolios including the efsitora Phase 3 program.
  • CEO Martin Brenner stated the appointment supports advancing the company's obesity & cardiometabolic pipeline, specifically IBIO-600 & IBIO-610, into late-stage development.
  • Dr. Carr cited alignment between her expertise in muscle biology & cardiometabolic disease & iBio's clinical vision as key reasons for joining the company.
  • The company granted Dr. Carr 430,000 stock options as inducement awards outside the 2023 Omnibus Incentive Plan to comply with Nasdaq Listing Rule 5635(c)(4).
  • The option grant has an exercise price of $1.40 per share, equals the closing price on July 31, 2026, & carries a ten-year term.
  • Vesting terms include 25% on the one-year anniversary with an additional 6.25% vesting every three months thereafter, subject to continued employment.
  • The award provides for accelerated vesting in the event of a change in control or certain involuntary terminations of Dr. Carr's employment.
  • iBio is a clinical-stage biotechnology company developing long-acting antibody therapeutics for obesity, cardiometabolic, cardiopulmonary diseases, cancer, & other hard-to-treat conditions.