I-Mab (IMAB) to Raise $100 Million in IPO

I-Mab (IMAB) is planning to raise $100 million in an initial public offering (IPO) on Friday, January 17th, IPO Scoop reports. The company will issue 7,400,000 shares at a price of $12.00-$15.00 per share.

In the last twelve months, I-Mab generated $6.7 million in revenue and had a net loss of $146.8 million. I-Mab has a market-cap of $778.3 million.

Jefferies and CICC served as the underwriters for the IPO and China Renaissance and Huatai Securities (USA) were co-managers.

I-Mab provided the following description of their company for its IPO: ”  We are a clinical stage biopharmaceutical company committed to the discovery, development and commercialization of novel or highly differentiated biologics to treat diseases with significant unmet medical needs, particularly cancers and autoimmune disorders. We were founded to capture the opportunities presented by the confluence of two major developments––the emergence of an attractive and growing biologics market in China, and the revolutionary scientific breakthroughs in cancer and autoimmune disease medicines. “.

I-Mab was founded in 2007 and has 185 employees. The company is located at Suite 802, West Tower, OmniVision, 88 Shangke Road, Pudong District, Shanghai, People’s Republic of China and can be reached via phone at +86 21-6057-8000. or on the web at http://www.i-mabbiopharma.com/en/.

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