Everest Medicines Makes Strategic Investment in I-Mab

Everest Medicines has announced a strategic equity investment of US$30.9 million in I-Mab, acquiring 15,846,154 new American depositary shares. This transaction increases Everest’s total ownership to approximately 16.1% of I-Mab’s issued share capital.

The investment is designed to enhance Everest’s position in next-generation cancer immunotherapy by creating strong synergies between the two companies. The deal brings together I-Mab’s robust bispecific antibody pipeline and 4-1BB receptor-targeting platform with Everest’s advanced mRNA cancer vaccine and in vivo CAR-T platforms. This complementary suite of technologies is expected to accelerate the development and global expansion of their pipeline products. A key asset for I-Mab is its bispecific antibody, givastomig, which demonstrated an impressive 83% overall response rate in a Phase 1b trial for first-line gastric cancer.

According to Everest CEO Rogers Yongqing Luo, the partnership will allow the companies to accelerate the development and global expansion of their pipeline products. The deal is specifically structured to combine I-Mab’s clinical capabilities in the U.S. with Everest’s strong presence in Asia, a move that could support joint clinical programs across both regions.

The investment also serves to support the global development of Everest’s own AI-powered mRNA platform, which is currently advancing multiple preclinical programs for cancer and autoimmune diseases. Other participants in the share offering included Janus Henderson Investors, Adage Capital Partners LP, Woodline Partners, and Exome Asset Management.