I-MAB Announces Pricing of U.S. Initial Public Offering

- ADSs to Begin Trading on Nasdaq on January 17, 2020

SHANGHAI, China & ROCKVILLE, MD., January 16, 2020 – I-Mab (“I-Mab” or the “Company”) (NASDAQ: IMAB), 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, today announced the pricing of its initial public offering of 7,407,400 American Depositary Shares (“ADSs”), each ten (10) ADSs representing twenty-three (23) ordinary shares of the Company, par value US$0.0001 per share, at US$14.00 per ADS, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs will begin trading on January 17, 2020 on the Nasdaq Global Market under the symbol "IMAB."

The Company has granted the underwriters an option to purchase up to an additional 1,111,110 ADSs within 30 days from the date of the final prospectus at US$14.00 per ADS. The total gross proceeds of the offering are expected to be approximately US$ 103,703,600, assuming the underwriters do not exercise their option to purchase additional ADSs, or approximately US$ 119,259,140, if the underwriters choose to exercise their option to purchase additional ADSs in full.

Jefferies LLC and China International Capital Corporation Hong Kong Securities Limited are acting as joint book-running managers for this offering. China Renaissance Securities (Hong Kong) Limited and Huatai Securities (USA), Inc. are acting as lead managers for this offering.

The Company’s registration statement related to the offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the "SEC"). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Copies of the prospectus related to the offering may be obtained from (i) Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, by telephone at (877) 821-7388 or by e-mail at Prospectus_Department@Jefferies.com or (ii) China International Capital Corporation Hong Kong Securities Limited, Attn: Rita Li, 29th One International Finance Center, One Harbour View Street, Central, Hong Kong, by telephone at (852) 2872-2000 or by e-mail at IB_Genesis2019@cicc.com.cn.

About I-Mab
I-Mab is a dynamic, global biotech company exclusively focused on developing biologics of novel or highly differentiated in the therapeutic areas of immuno-oncology and autoimmune diseases. I-Mab's mission is to bring transformational medicines to patients through innovation. I-Mab's innovative pipeline of more than 10 clinical and pre-clinical stage drug candidates is driven by the Company's Fast-to-PoC (Proof-of-Concept) and Fast-to-Market development strategies through internal R&D and global partnerships. The Company is on track to become a fully integrated end-to-end global biopharmaceutical company with cutting-edge discovery platforms, proven preclinical and clinical development expertise, and world-class GMP manufacturing capabilities. I-Mab is a private biopharmaceutical company with offices in China and the United States and has raised over US$400 million in equity financing since its establishment in 2016.

Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about I-Mab’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in I-Mab’s filings with the SEC. All information provided in this press release is as of the date of this press release, and I-Mab does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact


Jielun Zhu, CFO

E-mail: IR@i-mabbiopharma.com

Office line: 86 21 6057 8000