I-Mab Partners CD47 with AbbVie in $2 Billion Deal; Raises $414 Million in Private Placement

Shanghai's I-Mab out-licensed ex-China rights for lemzoparlimab, its anti-CD47 mAb, to AbbVie in a blockbuster $2 billion agreement. Separately, AbbVie also acquired right-of-first-refusal to two other CD47 molecules, which if exercised, would each trigger a $500 million payment. And I-Mab raised $418 million in a private placement from Hillhouse and other investors to support trials of its clinical candidates. I-Mab said it chose AbbVie because of its immunoncology and clinical development expertise. It added that testing a combination therapy of the CD47 and AbbVie's Bcl-2 inhibitor is a possibility. More details....

Stock Symbols: (NSDQ: IMAB) (NYSE: ABBV)

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