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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