- I-Mab strategic partnership with Sinopharm will covers all aspects of the go-to-market process, including authorization of more than 300 Sinopharm’s subsidiaries as distributors across China.
- I-Mab is on track to submit BLA for third line multiple myeloma (MM) treatment by Q4 2021.
- The partnership underscores I-Mab overall vision and lays essential foundation for commercialization in support of its robust pipeline of innovative drug candidates in China.
SHANGHAI, China and GAITHERSBURG, MD. October 26, 2021 – I-Mab (the “Company”) (Nasdaq: IMAB), a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics, today announced that the Company has entered into a strategic partnership with Sinopharm Group Co. Ltd. (“Sinopharm”) to strengthen its commercial capabilities and accelerate its commercialization transformation. I-Mab will authorize more than 300 of Sinopharm’s subsidiaries as distributors across China to support distribution and retail allocation to terminal markets while the Company leads the overall commercial activities. The partnership will also include alliance on key projects, to jointly accelerate the commercialization and go-to-market process of I-Mab’s differentiated and novel products to meet the urgent unmet medical needs of the large population of Chinese patients.
The Company is rapidly advancing clinical development of its innovative and globally competitive late-stage assets. Felzartamab, a differentiated anti-CD38 antibody, is expected to be the first drug brought to the Chinese market by I-Mab, which is on track to submit BLA for third-line multiple myeloma (MM) treatment later this year. In addition, I-Mab has completed patient enrollment in a phase 3 registrational trial of felzartamab in combination with lenalidomide as a second-line therapy in patients with multiple myeloma (MM).
"Sinopharm is a leader in the pharmaceutical supply chain, distribution and retail industry in China, with extensive resources and experience in market access,” said Yifei Zhu, Chief Commercial Officer of I-Mab. “Now I-Mab is continuously strengthening its commercial capabilities with all core commercial teams in place. The commercial readiness and pre-launch preparation are on track and proceeding as planned. We are pleased to have entered into the strategic partnership with Sinopharm as we work towards "I-Mab 2.0" as a global biopharmaceutical company with full capabilities of manufacturing and commercialization. We look forward to working with Sinopharm to jointly build an efficient and high quality commercialization ecosystem that includes strong distribution resources, and bring our differentiated and novel drugs to more patients in China."
“Since its establishment in 2016, I-Mab has rapidly grown into one of the most promising and innovative biotech companies in China,” said Liu Yong, President of Sinopharm. “We are delighted to have entered into the strategic partnership with I-Mab as they prepare for commercialization of its innovative products. With our shared vision and values, Sinopharm is dedicated to providing I-Mab with all-round services and support to ensure I-Mab’s extensive portfolio will benefit the patients in need.”
Under the strategic partnership, both parties will cooperate closely to extend coverage and enhance accessibility of innovative product within I-Mab’s pipeline, leveraging Sinopharm's rich experience in market access, particularly in established channel network and logistic resources.
I-Mab (Nasdaq: IMAB) is a dynamic, global biotech company exclusively focused on discovery, development and soon, commercialization of novel or highly differentiated biologics in the therapeutic areas of immuno-oncology and autoimmune diseases. The Company’s mission is to bring transformational medicines to patients around the world 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 transition from a clinical stage biotech company toward a fully integrated global biopharmaceutical company with cutting-edge R&D capabilities, world-class GMP manufacturing facilities and commercial capability. I-Mab has established its global footprint in Shanghai (headquarters), Beijing, Hangzhou, Guangzhou, Lishui and Hong Kong in China, and Maryland and San Diego in the United States. For more information, please visit http://ir.i-mabbiopharma.com and follow I-Mab on LinkedIn, Twitter and WeChat.
Sinopharm Group Co. Ltd., which was established in January 2003 and listed on The Stock Exchange of Hong Kong Limited (stock code: 01099. HK) in September 2009, is a core subsidiary of China National Pharmaceutical Group Co., Ltd. and the largest wholesaler and retailer of pharmaceutical and healthcare products and medical devices, and a leading supply-chain service provider in the PRC. The Sinopharm Group is mainly engaged in pharmaceutical distribution business. Leveraging on its nationwide distribution and delivery network, the Sinopharm Group provides comprehensive distribution, logistics and other value-added services to domestic and foreign manufacturers and suppliers of pharmaceutical products, medical devices and consumables and other healthcare products, and also to downstream customers including hospitals, other distributors, retail drug stores and primary health services institutions. Meanwhile, the Sinopharm Group manages its network of retail drug stores chain in major cities of China via direct operations and franchises to sell pharmaceutical and healthcare products to end-customers. It has become a leader in China’s pharmaceutical retail industry.
Forward Looking Statements
This press release includes certain disclosures which contain “forward-looking statements.” You can identify forward-looking statements because they contain words such as “anticipate” and “expected.” Forward-looking statements are based on I-Mab’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in filings with the U.S. Securities and Exchange Commission. I-Mab undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.