Everest Medicines has strategically increased its stake in I-Mab, becoming its largest shareholder

On August 1, 2025, Everest Medicines (HKEX 1952.HK) announced an investment of $30.9 million (equivalent to approximately HK$242.6 million) in I-Mab (NASDAQ: IMAB). Upon completion of the transaction, Everest Medicines will hold approximately 16.1% of I-Mab’s shares, making it the largest shareholder of I-Mab.

This investment not only marks a key step in Everest Medicines’ strategic layout in the field of next-generation cancer immunotherapy but also highlights the in-depth cooperation between the two parties in the area of cancer immunotherapy.

On August 1, 2025, I-Mab (NASDAQ: IMAB), a global biotechnology company headquartered in the United States and focused on developing precision oncology immunotherapies for cancer treatment, announced an underwritten offering in the United States of 33,333,334 American Depositary Shares (ADSs), representing 76,666,668 ordinary shares, at a price of $1.95 per ADS, with the total gross proceeds expected to be approximately $65 million. All the ADSs in this offering are being sold by I-Mab. The offering is expected to close on August 5, 2025, subject to customary closing conditions.

I-Mab’s core product, Givastomig (a Claudin 18.2 x 4-1BB bispecific antibody), demonstrated significant clinical value potential at the 2025 ESMO GI (European Society for Medical Oncology Gastrointestinal Cancer Congress), with a Phase 1b dose-escalation study showing an objective response rate (ORR) of up to 83%.

Everest Medicines’ AI + mRNA platform and autologous CAR-T platform are highly complementary to I-Mab’s 4-1BB receptor-targeting platform and bispecific antibody pipeline. Together, the two companies will build a new generation of oncology immunotherapy product matrix.

Rogers Luo, Chief Executive Officer of Everest Medicines, said, “This strategic equity investment will further advance our global layout of the next-generation oncology immunotherapy pipeline. We look forward to working closely with I-Mab to bring more breakthrough treatment options to cancer patients in China and around the world.”

The investment also attracted several internationally renowned investment institutions, including Janus Henderson Investors, Adage Capital Partners LP, Woodline Partners, and Exome Asset Management. This will further strengthen I-Mab’s financial position, accelerating its product development and market expansion.

The collaboration between Everest Medicines and I-Mab will fully leverage the expertise of both parties in the United States and China, working together on clinical development and business expansion to realize the global value of the next-generation oncology immunotherapies.

On August 1, 2025, I-Mab’s closing price was $2.620, up $0.610 from the previous trading day, representing a 30.35% increase. The highest price of the day was $3.440, and the lowest price was $2.250. The trading volume was 44,554,300 shares. The company’s total market capitalization was approximately $214 million.

【Editor’s note】The above content (~2700 words) is a quick translation of a Chinese article (posted on 2025-08-02) by DrugTimes team. To read the original article, please click here. All comments are warmly welcome. Many thanks!