ROCKVILLE, Md., Nov. 6, 2024
/PRNewswire/ -- 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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SOURCE I-Mab Biopharma