I-Mab Adr (IMAB) has released an update.
I-Mab, a U.S.-based biotech firm, has completed the divestiture of its Chinese business unit, I-Mab Shanghai, to Hangzhou Company for up to $80 million, contingent on future milestones. In a concurrent transaction, I-Mab’s Hong Kong subsidiary resolved approximately $183 million in repurchase obligations by transferring equity interests. Additionally, I-Mab invested $19 million in Hangzhou Company’s Series C funding round.
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