I-Mab Expands U.S. Footprint with New R&D Site in San Diego

Rhea-AI Summary

I-Mab (Nasdaq: IMAB) is expanding its U.S. operations by establishing a new R&D site in San Diego, aimed at enhancing its global drug development capabilities. This site will complement its existing facility in Gaithersburg, Maryland, forming an integrated U.S. R&D center that supports clinical studies across China and the U.S. The company aims to attract top talent and invest significantly over the next two years, focusing on immuno-oncology and translational medicine, to advance its innovative pipeline of over 20 assets.

Positive

• Expansion of R&D capabilities with a new facility in San Diego.
• Strategic location in a major biotech hub to attract talent.
• Establishment of an integrated I-Mab US R&D center to enhance global drug development.

Negative

• None.

-  I-Mab will strengthen its global R&D presence, with a new world-class R&D and operational site, located in the heart of the rapidly growing San Diego biotech hub

-  The new site will complement I-Mab's Global Clinical Development site in Gaithersburg, Maryland to form an integrated I-Mab US R&D Center for global drug development

SHANGHAI and GAITHERSBURG, Md., Oct. 22, 2021 /PRNewswire/ -- I-Mab (the "Company") (Nasdaq: IMAB), a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics, today announced that it will establish a new site focusing on Translational Medicine and Formulation Research in San Diego. The state-of-the-art, integrated laboratory and office space will strengthen the Company's worldwide development capabilities, further reinforcing I-Mab's ability to conduct global clinical studies across China and the U.S.

"Our vision for our new San Diego location is to establish a world-class research and operational site as part of I-Mab US R&D Center that will support our mission to deliver first and best in class medicines to patients worldwide," said Dr. Jingwu Zang, Founder, Chairman and Director of I-Mab. "We're very excited about our new research site in San Diego, which will complement our research and development facilities around the world to advance our innovative pipeline globally."

"As a dynamic and growing U.S. biotech hub, San Diego was a great choice due to its large pool of biopharma talent and proximity to many of the world's leading research institutions," said Neil Warma, General Manager of I-Mab US. "We have been able to attract world-class individuals across several key functions to our new San Diego location and are completing final construction of the site, with move-in planned toward the end of the year. It's a very exciting time for I-Mab as we expand our capabilities strategically to conduct clinical development on a global scale to advance novel therapies for patients," Mr. Warma added.

Founded in 2016, I-Mab is committed to bringing innovative treatments for cancer to patients globally, drawing on the scientific strengths of the Company in immuno-oncology and its robust pipeline of 20 innovative assets in development. The San Diego site will serve as one of strategic sites for I-Mab's global drug development efforts, and will include a comprehensive biomarker platform that will support current and future clinical trials. The new research site will be an integral part of I-Mab's US R&D Center together with the Global Clinical Development site established in 2018 in Gaithersburg, Maryland, which is focused on global clinical development and regulatory affairs.

The Company is preparing for rapid growth over the next two years through significant investments in the United States to support development of its innovative pipeline.  The facility will serve as a specialized research site for worldwide development efforts alongside the hiring of key talent in immuno-oncology, translational medicine, Chemistry, Manufacturing, and Controls (CMC).  

About I-Mab

I-Mab (Nasdaq: IMAB) is a dynamic, global biotech company exclusively focused on discovery, development, and soon commercialization of novel or highly differentiated biologics in the therapeutic areas of immuno-oncology and autoimmune diseases. The Company's mission is to bring transformational medicines to patients around the world through innovation. I-Mab's innovative pipeline of more than 10 clinical and pre-clinical stage drug candidates is driven by the Company's Fast-to-PoC (Proof-of-Concept) and Fast-to-Market development strategies through internal R&D and global partnerships. The Company is on track to transition from a clinical-stage biotech company toward a fully integrated global biopharmaceutical company with cutting-edge R&D capabilities, world-class GMP manufacturing facilities, and commercial capability. I-Mab has established its global footprint in Shanghai (headquarters), Beijing, Hangzhou, Guangzhou, Lishui and Hong Kong in China, and Maryland and San Diego in the United States. For more information, please visit http://ir.i-mabbiopharma.com and follow I-Mab on LinkedIn, Twitter, and WeChat.

For more information, please contact:

I-Mab

Jielun Zhu, Chief Financial Officer
E-mail: jielun.zhu@i-mabbiopharma.com
Office line: +86 21 6057 8000

Gigi Feng, Chief Communications Officer
E-mail: gigi.feng@i-mabbiopharma.com
Office line: +86 21 6057 5709

View original content:https://www.prnewswire.com/news-releases/i-mab-expands-us-footprint-with-new-rd-site-in-san-diego-301406493.html

SOURCE I-Mab

FAQ

What is I-Mab's new site in San Diego focused on?

I-Mab's new site in San Diego will focus on Translational Medicine and Formulation Research.

Why did I-Mab choose San Diego for its new R&D site?

San Diego was chosen due to its large pool of biopharma talent and proximity to leading research institutions.

How many innovative assets is I-Mab developing?

I-Mab has over 20 innovative assets in development.

When is I-Mab planning to move into the new San Diego site?

I-Mab plans to move into the new site toward the end of the year.

What is the significance of the new R&D center for I-Mab?

The new R&D center will support I-Mab's mission to deliver first and best in class medicines globally.