I-Mab Files Prospectus Supplement for Shelf Registration for Hillhouse

Rhea-AI Summary

I-Mab (Nasdaq: IMAB) announced the filing of a prospectus supplement with the SEC to register 19,050,555 ordinary shares held by Gaoling Fund and YHG Investment, in compliance with PIPE Agreements from September 2020. Hillhouse currently owns 13.3% of I-Mab's shares. This registration is part of a shelf registration statement filed on February 5, 2021. I-Mab, a clinical-stage biopharmaceutical company, focuses on immuno-oncology and has a pipeline of over 15 drug candidates, aiming for transformational medicines through innovative drug development.

Positive

• I-Mab is progressing towards becoming a fully integrated global biopharmaceutical company.
• The company has a competitive pipeline with over 15 clinical and pre-clinical drug candidates.

Negative

• None.

SHANGHAI, China and GAITHERSBURG, Md., March 19, 2021 (GLOBE NEWSWIRE) -- I-Mab (the "Company") (Nasdaq: IMAB), a clinical stage biopharmaceutical company committed to the discovery, development and commercialization of novel biologics, today filed a prospectus supplement with the Securities and Exchange Commission (the “SEC”) to register 19,050,555 ordinary shares, including ordinary shares represented by American depositary shares (“ADSs”) of I-Mab, held by Gaoling Fund, L.P. and YHG Investment, L.P. (collectively “Hillhouse”). Hillhouse acquired these ordinary shares pursuant to a series of subscription agreements dated September 3, 2020 through a private placement (the “PIPE Agreements”). The Company is filing a shelf registration to register the aforementioned ordinary shares, including ordinary shares represented by ADSs, to satisfy contractual registration rights of Hillhouse in the PIPE Agreements. Currently, Hillhouse beneficially owns 22,492,602 ordinary shares of the Company, or 13.3% of the total outstanding ordinary shares.

Each ten (10) ADSs represent twenty-three (23) of our ordinary shares, par value US$0.0001 per share. This prospectus supplement and the accompanying prospectus are part of a registration statement on Form F-3 (No. 333-252793) that the Company filed with the SEC on February 5, 2021 using a “shelf” registration process.

This announcement shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About I-Mab

I-Mab (Nasdaq: IMAB) is an innovation-driven global biotech company focusing on discovery, development and soon commercialization of novel and highly differentiated biologics in immuno-oncology therapeutic area. The Company's mission is to bring transformational medicines to patients around the world through drug innovation. I-Mab's globally competitive pipeline of more than 15 clinical and pre-clinical stage drug candidates is driven by its internal R&D capability and global licensing partnerships, based on the Company's unique Fast-to-Proof-of-Concept and Fast-to-Market pipeline development strategies. The Company is now rapidly progressing from a clinical stage biotech company to a fully integrated global biopharmaceutical company with cutting-edge global R&D capabilities, a world-class GMP manufacturing facility and commercialization capability. I-Mab has established its global footprint in Shanghai (headquarters), Beijing, Hangzhou 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.

I-Mab Forward Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about I-Mab’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in I-Mab’s filings with the SEC. All information provided in this press release is as of the date of this press release, and I-Mab does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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 5785

Investor Inquiries:

The Piacente Group, Inc.
Emilie Wu
E-mail: emilie@thepiacentegroup.com
Office line: +86 21 6039 8363

FAQ

What is I-Mab's recent SEC filing about?

I-Mab filed a prospectus supplement to register 19,050,555 shares held by Hillhouse, complying with PIPE Agreements.

How many shares does Hillhouse own in I-Mab?

Hillhouse beneficially owns 22,492,602 ordinary shares, equating to 13.3% of I-Mab's total outstanding shares.

What is the purpose of I-Mab's shelf registration?

The shelf registration aims to fulfill the contractual registration rights of Hillhouse as per the PIPE Agreements.

When was the shelf registration statement for I-Mab filed?

The shelf registration statement for I-Mab was filed with the SEC on February 5, 2021.