iBio Inc (NASDAQ:IBIO) climbed about 13.2% in premarket trading on Friday after the company announced it has raised roughly $26 million through a private placement financing.
The funding round was led by Frazier Life Sciences, with additional participation from existing investors. The transaction involves the issuance of 11,061,738 shares of common stock priced at $2.35 per share and is expected to close on or around January 13, 2026, subject to standard closing conditions.
iBio said the proceeds will be used to advance its preclinical cardiometabolic pipeline, including programs such as IBIO-610, IBIO-600, and its bispecific antibody candidates targeting myostatin and activin A. The company added that the new capital is expected to extend its cash runway into calendar year 2028.
According to iBio, the private placement attracted healthcare-focused institutional investors that are already familiar with the business. Leerink Partners acted as lead placement agent, with LifeSci Capital and Oppenheimer & Co. serving as co-placement agents.
The transaction also included an option for investors to purchase pre-funded warrants at $2.349 per warrant instead of common shares, subject to beneficial ownership limits set by each participant.