Brief: I-Mab Signs Agreement To Divest Its Assets And Business Operations In China

NovaBridge Biosciences

07/02/2024 11:24

Feb 7 (Reuters) - I-Mab  IMAB.O :
    * I-MAB SIGNS AGREEMENT TO DIVEST ITS ASSETS AND BUSINESS
OPERATIONS IN CHINA
    * I-MAB SIGNS AGREEMENT TO DIVEST ITS ASSETS AND BUSINESS
OPERATIONS IN CHINA
    * I-MAB - COMPANY RETAINS CASH IN HAND, EX-CHINA RIGHTS OF
ALL
CLINICAL STAGE ASSETS
    * I-MAB - ONCE TRANSACTION IS COMPLETED, HANGZHOU COMPANY
WILL
ACQUIRE I-MAB DRUG ASSETS IN CHINA
    * I-MAB - JOSEPH SKELTON HAS BEEN APPOINTED BY BOARD TO
SERVE AS
COMPANY'S CHIEF FINANCIAL OFFICER, EFFECTIVE FEBRUARY 5, 2024
    * I-MAB - PAMELA KLEIN, ACCEPTED APPOINTMENT AS INTERIM
CHAIRPERSON, AS JINGWU ZANG, STEPS DOWN FROM BOARD, EFFECTIVE
FEBRUARY 10
    * I-MAB-RETAINS CASH IN HAND, EX-CHINA RIGHTS OF ALL
CLINICAL
STAGE ASSETS LED BY GIVASTOMIG (CLDN18.2/4-1BB), ULILEDLIMAB
(CD73), TJ-L14B (PD-L1/4-1BB)
    * I-MAB - TO TRANSFER 100% OF EQUITY INTEREST IN I-MAB
BIOPHARMA
CO., . TO HANGZHOU COMPANY FOR CONSIDERATION OF RMB EQUIVALENT
OF UP TO US$80 MILLION
    * I-MAB - ALSO RETAINS A RIGHT OF FIRST NEGOTIATION OUTSIDE
OF
GREATER CHINA RELATED TO THREE FUTURE INVESTIGATIONAL NEW DRUG
CANDIDATES
    * I-MAB - PARTICIPATED IN SERIES C FUNDRAISING OF HANGZHOU
COMPANY
FOR AN EQUITY INTEREST SUBSCRIPTION OF US$19 MILLION IN CASH

Source text for Eikon:  ID:nPn2wYzCQa 
Further company coverage:  IMAB.O