Everest Medicines Invests $30.9M in I-Mab

Everest Medicines, a biopharmaceutical company focused on the discovery, clinical development, manufacturing, and commercialization of innovative therapeutics, has made a $30.9 million strategic equity investment in I-Mab. 

“This strategic equity investment furthers our plan to be an active player in next-generation oncology programs across global markets. Everest and its Board of Directors believe this investment recognizes I-Mab’s unique clinical translational capabilities in the U.S., which are complementary and synergistic with the Company’s strong Asia presence,” said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. 

“As a biotech pioneer in China, Everest has built internally developed pipeline assets including mRNA therapeutic cancer vaccines and in vivo CAR-T therapies targeting cancer and autoimmune diseases. Our areas of focus meaningfully intersect with I-Mab’s differentiated 4-1BB platform and bispecific antibody pipeline, including oncology candidates Givastomig (Claudin 18.2 x 4-1BB bispecific antibody) and Ragistomig (PD-L1 x 4-1BB bispecific antibody), both promising programs that we are closely watching. Furthermore, both companies may be able to leverage their combined expertise to run clinical programs in both China and the U.S. Everest is proud to develop innovative and valuable therapies that can benefit cancer patients globally,” said Luo.