I-Mab Biopharma to split US, China businesses to cut costs, mitigate potential risks

I-Mab Bio­phar­ma may have long tak­en pride in be­ing a Chi­na-based glob­al play­er, but from here on out, it wants to be known as a US-based biotech.

The com­pa­ny is carv­ing out its as­sets and busi­ness op­er­a­tions in Chi­na in­to a new en­ti­ty dubbed I-Mab Bio­phar­ma (Hangzhou) — which will be backed by a group of Chi­na-based in­vestors and head­ed by founder Jing­wu Zang. Ac­cord­ing to I-Mab, the move kills three birds with one stone: “stream­lin­ing the op­er­at­ing mod­el, re­duc­ing op­er­a­tional costs, and mit­i­gat­ing po­ten­tial as­so­ci­at­ed risks.”

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