Biotech firm I-Mab to divest China operations

NovaBridge Biosciences

07/02/2024 11:18

Feb 7 (Reuters) - I-Mab  IMAB.O  said on Wednesday that
it has agreed to divest its operations and assets in China, as
part of its strategy to become a U.S.-focused biotech firm.
    The company said it will transfer the ownership of its China
unit, I-Mab Shanghai, to its affiliate Hangzhou Company for a
total consideration of upto $80 million.

 (Reporting by Bhanvi Satija in Bengaluru; Editing by Varun H K)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))