I-Mab to Pursue Dual Listing Plan on The Main Board of The Stock Exchange of Hong Kong Limited

Rhea-AI Summary

I-Mab (Nasdaq: IMAB) announced its Board of Directors approved a motion for a dual listing of the company's ordinary shares on The Main Board of The Stock Exchange of Hong Kong Limited. The move is subject to market conditions, further Board approvals, and necessary regulatory clearances. I-Mab aims to enhance its global presence and facilitate capital raising through this initiative. As a clinical-stage biopharmaceutical company, I-Mab focuses on developing novel biologics for immuno-oncology and autoimmune diseases, supported by a robust pipeline of drug candidates.

Positive

• The pursuit of a dual listing on the Hong Kong Stock Exchange could enhance I-Mab's global presence.
• The company has a diverse pipeline with over 20 clinical and preclinical-stage drug candidates.

Negative

• The dual listing is conditional on market conditions and further approvals, introducing uncertainty.
• Potential risks associated with regulatory approvals and the efficacy of drug candidates may affect future success.

SHANGHAI and GAITHERSBURG, Md., Dec. 7, 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 the Board of Directors of the Company (the "Board") approved a motion to pursue the listing of the Company's ordinary shares on The Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Dual Listing"). The Board also authorized the Company's senior management to proceed with the relevant preparatory work and undertake the necessary procedures to complete the Hong Kong Dual Listing.

The Hong Kong Dual listing is conditional upon and subject to, among other things, market conditions, further approval of the Board, and the obtaining of the necessary regulatory approvals. The Company will make further announcement(s) to disclose any material updates and progress with respect to the Hong Kong Dual Listing in accordance with applicable laws and regulations as and when appropriate. This announcement is for information purposes only and does not constitute, or form part of, any invitation or offer to acquire, purchase or subscribe to any securities of the Company. Shareholders and potential investors should exercise caution when dealing in the securities of the Company.

About I-Mab

I-Mab (Nasdaq: IMAB) is an innovation-driven global biopharma company focused on the discovery, development and commercialization of novel and highly differentiated biologics for immuno-oncology and autoimmune diseases. The Company's mission is to bring transformational medicines to patients around the world through innovation. I-Mab's globally competitive pipeline of more than 20 clinical and preclinical-stage drug candidates is driven by its internal discovery and global partnerships for in-licensing, based on the Company's Fast-to-Proof-of-Concept and Fast-to-Market development strategies. The Company is progressing from a clinical-stage biotech company into a fully integrated global biopharmaceutical company with cutting-edge R&D capabilities, a world-class GMP manufacturing facility, 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. 

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. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. I-Mab may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about I-Mab's beliefs and expectations, are forward-looking 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, including but not limited to the following: I-Mab's ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may not support further development or NDA/BLA approval; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of I-Mab's drug candidates; I-Mab's ability to achieve commercial success for its drug candidates, if approved; I-Mab's ability to obtain and maintain protection of intellectual property for its technology and drugs; I-Mab's reliance on third parties to conduct drug development, manufacturing and other services; I-Mab's limited operating history and I-Mab's ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates; and the impact of the COVID-19 pandemic on the Company's clinical development, commercial and other operations, as well as those risks more fully discussed in the "Risk Factors" section in I-Mab's most recent annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in I-Mab's subsequent filings with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to I-Mab, and I-Mab undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

For more information, please contact:

I-Mab

John Long, Chief Financial Officer
E-mail: john.long@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

Investor Inquiries:

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

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SOURCE I-Mab

FAQ

What is I-Mab's plan regarding the stock exchange listing?

I-Mab plans to pursue a dual listing on The Main Board of The Stock Exchange of Hong Kong Limited.

What are the conditions for the Hong Kong dual listing by I-Mab?

The dual listing is subject to market conditions, further Board approvals, and necessary regulatory approvals.

How many drug candidates are in I-Mab's pipeline?

I-Mab has over 20 clinical and preclinical-stage drug candidates in its pipeline.

What is the significance of the dual listing for I-Mab?

The dual listing aims to enhance I-Mab's global presence and facilitate capital raising efforts.

When was the announcement about the dual listing made?

The announcement regarding the dual listing was made on December 7, 2021.