Everest Medicines has announced a strategic US$30.9 million equity investment in I-Mab (NASDAQ: IMAB), which will result in a 16.1% ownership stake. The investment is part of I-Mab's broader US$65 million underwritten offering of American Depositary Shares at $1.95 per ADS.
The investment strengthens the partnership between both companies, leveraging I-Mab's promising oncology pipeline, including givastomig, which showed an impressive 83% overall response rate in Phase 1b trials for first-line gastric cancer. The collaboration aims to combine Everest's mRNA cancer vaccines and CAR-T platform with I-Mab's 4-1BB bispecific antibody pipeline, while utilizing their complementary clinical development capabilities in Asia and the U.S.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.