UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2024
Commission File Number: 001-39173
I-MAB
2440 Research Boulevard, Suite 400
Rockville, MD 20850
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Compensatory Arrangements of Certain Executive Officers
Appointment of Dr. Sean Xi-Yong Fu as Permanent Chief Executive Officer
Effective November 1, 2024, the board of directors (the “Board”) of I-MAB (“I-MAB” or the “Company”) appointed Dr. Sean Xi-Yong Fu to serve as the Company’s permanent Chief Executive Officer. Dr. Fu had been serving as the Company’s interim Chief Executive Officer since July 15, 2024.
Information regarding Dr. Fu’s previous positions with the Company and business experience is disclosed in a press release filed with the Company’s Report on Form 6-K, which was filed with the Securities and Exchange Commission (the “SEC”) on July 15, 2024, and information regarding Dr. Fu’s relationship with ABio-X Holdings, Inc. (“ABio-X”), a wholly-owned subsidiary of C-Bridge V Investment Holding Limited, which is a wholly-owned subsidiary of C-Bridge Healthcare Fund V, L.P., is disclosed in the Company’s Report on Form 6-K, which was filed with the SEC on August 30, 2024.
Termination of Secondment Agreement
On November 1, 2024, in connection with Dr. Fu’s appointment as the Company’s permanent Chief Executive Officer, the Secondment Agreement between ABio-X and I-MAB Biopharma US Limited (“I-MAB US”), a wholly-owned subsidiary of the Company, was terminated.
Press Release
On November 6, 2024, the Company issued a press release announcing the appointment of Dr. Fu as the Company’s permanent Chief Executive Officer. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
Incorporation by Reference
This Report on Form 6-K (the “Report”) shall be deemed to be incorporated by reference into the registration statements on Form S-8 (File No. 333-279842, File No. 333-265684, File No. 333-256603 and File No. 333-239871) of the Company (including any prospectuses forming a part of such registration statements) and to be a part thereof from the date on which this Report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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I-MAB |
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Joseph Skelton |
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Chief Financial Officer |
Date: November 6, 2024
I-Mab Appoints Sean Fu, PhD, MBA, as Chief Executive Officer
ROCKVILLE, MD, November 6, 2024 – I-Mab (NASDAQ: IMAB) (the “Company”), a U.S.-based, global biotech company exclusively focused on the development of highly differentiated immunotherapies for the treatment of cancer, today announced that Sean (Xi-Yong) Fu, PhD, MBA has been appointed as the Company’s permanent Chief Executive Officer (“CEO”) effective November 1, 2024. Dr. Fu has served as Interim CEO since July 15, 2024. Dr. Fu will continue to serve as a member of the Board of Directors of I-Mab.
“Sean’s appointment serves as a significant step towards further realizing I-Mab’s mission of delivering transformative therapies to patients worldwide. He has embraced his role as Interim CEO and quickly proven to be a strategic and effective leader”, said Mr. Wei Fu, Chairman of the Board of Directors of I-Mab. “Sean’s broad experience across all aspects of biopharmaceutical product development, partnering transactions, organizational leadership, and his track record as an innovative entrepreneur make him the right choice to lead I-Mab.”
“During the last several months, I have seen the I-Mab team’s passion and dedication to advancing our differentiated portfolio of immunotherapies for cancer. I am honored and excited to have this opportunity to continue to lead I-Mab as we advance our three clinical programs towards important upcoming milestones and further develop our strategy,” said Dr. Fu. “I look forward to working with our talented team at I-Mab and collaborating with the Board of Directors, leadership team, and partners as we work to realize the full potential of our promising portfolio and bring new therapies to cancer patients.”
Dr. Fu has over 20 years of industry experience in the life sciences industry, leading and developing clinical-stage assets. Most recently, Dr. Fu served as the Operating Partner of ABio-X, an incubation platform for life sciences companies. Before joining ABio-X, Dr. Fu was co-founder and CEO of RVAC Medicines (RVAC), an mRNA platform company. Prior to founding RVAC, Dr. Fu was Group VP and head of International R&D for Luye Pharma Group, overseeing organizations in Boston, Princeton, Germany, Switzerland, and Japan. He was also the CEO of GeneLeap, a Luye subsidiary company focused on DNA and RNA therapeutics. Previously, Dr. Fu worked at Merck & Co. (Merck) for 15 years, with responsibilities covering R&D, business development, finance, and operational management. His work at Merck included management of the finances for the late-stage clinical portfolio and leading the integration of the global R&D network following the landmark $42 billion merger between Merck and Schering-Plough Corporation. Dr. Fu earned a PhD in materials science and engineering from the Ohio State University and an MBA from the Wharton School of the University of Pennsylvania.
About I-Mab
I-Mab (NASDAQ: IMAB) is a U.S.-based, global biotech company exclusively focused on the development of highly differentiated immunotherapies for the treatment of cancer. I-Mab has established operations in Rockville, Maryland, and Short Hills, New Jersey. For more information, please visit https://www.i-mabbiopharma.com and follow us on LinkedIn and X.
Forward Looking Statements
This announcement contains forward-looking statements. These statements are made under 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", "believes", "designed to", "anticipates", "future", "intends", "plans", "potential", "estimates", "confident", and similar terms or the negative thereof. I-Mab may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about I-Mab's beliefs and expectations, are forward-looking statements. Forward-looking statements in this press release include statements regarding: the timing and progress of studies and trials; and the availability of data and information from ongoing studies and trials. Forward-looking statements involve inherent risks and uncertainties that may cause actual results to differ materially from those contained in these forward-looking statements, including but not limited to the following: I-Mab's ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may or may not support further development or New Drug Application/Biologics License Application (NDA/BLA) approval; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of I-Mab's drug candidates; I-Mab's ability to achieve commercial success for its drug candidates, if approved; I-Mab's ability to obtain and maintain protection of intellectual property for its technology and drugs; I-Mab's reliance on third parties to conduct drug development, manufacturing, and other services; and I-Mab's limited operating history and I-Mab's ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates, as well as those risks more fully discussed in the "Risk Factors" section in I-Mab's most recent annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in I-Mab's subsequent filings with the SEC. All forward-looking statements are based on information currently available to I-Mab. 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.
I-Mab Investor & Media Contacts
Tyler Ehler
Senior Director, Investor Relations
IR@imabbio.com
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