LLY - Week In Review: I-Mab Morphs Into U.S.-Only Company Sells China Assets For $80M
2024-02-11 01:25:00 ET
Summary
- I-Mab Hangzhou will acquire rights to I-Mab’s drug assets in Greater China for $80 M.
- Anbogen Therapeutics raised $12.5M in a Series A funding round. to advance its two lead drug candidates.
- Bayer signed a non-binding Letter of Intent to market a Continuous Glucose Monitoring biosensor device owned by Ireland’s Trinity Biotech in China and India .
Deals and Financings
I-Mab ( IMAB ) will become a completely US-based company with operations in Rockville, Maryland and San Diego, divesting itself of I-Mab Biopharma (Hangzhou), an unconsolidated affiliate (see story ). I-Mab Hangzhou will acquire rights to I-Mab's drug assets in Greater China (eftansomatropin alfa, felzartamab, uliledlimab, givastomig, and lemzoparlimab) for $80 million (dependent on meeting specified goals). The Hangzhou company will acquire I-Mab's R&D center in Shanghai along with the Hangzhou manufacturing facility. The US I-Mab will own a right of first negotiation to three investigational drug candidates outside of Greater China....
Week In Review: I-Mab Morphs Into U.S.-Only Company, Sells China Assets For $80M