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I-Mab Biopharma Raises $65 Million in US Underwritten Offering

Strategic Insights

— 1 min read

I-Mab Biopharma, a US-based global biotech company focused on developing precision immuno-oncology agents for cancer treatment, has announced the pricing of an underwritten offering in the United States, raising approximately $65 million. The offering involved the sale of 33.33 million American Depositary Shares (ADSs) at $1.95 per ADS, with participation from new and existing investors, including Everest Medicines and Janus Henderson Investors. The net proceeds from the offering will be used to fund ongoing clinical development of I-Mab's pipeline product candidates, including a Phase 2 trial of givastomig, a bispecific Claudin 18.2 x 4-1BB antibody.

Key Takeaways:

  • I-Mab Biopharma has raised approximately $65 million through an underwritten offering in the United States, with the sale of 33.33 million American Depositary Shares (ADSs) at $1.95 per ADS.
  • The offering involved participation from new and existing investors, including Everest Medicines, Janus Henderson Investors, and Adage Capital Partners LP.
  • I-Mab intends to use the net proceeds from the offering for ongoing clinical development of its pipeline product candidates, including a Phase 2 trial of givastomig.
  • The Phase 2 trial is expected to have sufficient power and size to generate clinically meaningful progression-free survival (PFS) data by end of 2027.
  • The offering is expected to close on August 5, 2025, subject to customary closing conditions.
  • Leerink Partners is acting as the lead bookrunning manager, with BTIG and Lucid Capital Markets serving as bookrunning managers and lead manager, respectively.

Statistics:

  • 33,333,334 American Depositary Shares (ADSs) sold in the US underwritten offering
  • $65 million in gross proceeds from the underwritten offering
  • $1.95 per ADS offering price
  • $1.95 per ADS closing price
  • 76,666,668 ordinary shares represented by ADSs sold in the offering
  • Expected closing date: August 5, 2025
  • Phase 2 trial expected to generate clinically meaningful progression-free survival (PFS) data by end of 2027

Sources:

  • I-Mab Biopharma press release
  • NASDAQ listing data
  • Securities and Exchange Commission (SEC) filing data

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