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I-Mab Biopharma Expands Strategic Collaboration with WuXi Biologics and Licenses WuXiBody™ Platform for Three Bispecific Antibody Programs

WuXi Biologics (2269.HK), a leading global open-access biologics technology platform company offering end-to-end solutions for biologics discovery, development and manufacturing and I-Mab Biopharma ("I-Mab"), a biotech company focusing exclusively on innovative biologics in immuno-oncology and auto-immune diseases, jointly announce today that I-Mab has expanded strategic collaboration with WuXi Biologics and licensed proprietary WuXiBody™ Platform to develop three bispecific antibodies. WuXi Biologics will also be the exclusive partner to develop and manufacture these bispecifics.

Under the terms of the agreement, I-Mab has rights to use the proprietary WuXiBody™ Platform to research, develop and commercialize three bispecific antibodies generated from I-MAB's proprietary pipeline. WuXi Biologics will receive an upfront payment as well as development, regulatory and commercial milestone payments, and will be entitled to royalties based on global sales of these bispecific antibodies.

In April 2017, I-Mab and WuXi Biologics announced a strategic development and manufacturing partnership for multiple biologics of First-in-Class or Best-in-Class potential from I-Mab's pipeline. The announcement today further expands that collaboration into biologics discovery.

"The expanded partnership with WuXi Biologics for bispecific antibodies is an important addition to our growing proprietary portfolio of next-wave biologics, which results from cutting-edge discovery technologies with the potential to transform standards of care in the respective therapeutic areas," said Dr. Jingwu Zang, the founder and Chief Executive Officer of I-Mab. "Collaborating with a globally renowned biologics technology platform company like WuXi Biologics helps us develop and manufacture these innovative biologics with world-class technical expertise and cost-effectiveness, propelling us one step closer to being an end-to-end fully integrated biopharmaceutical company."

"WuXi Biologics has enabled several clinical manufacturing programs for I-Mab. We are excited to expand our strategic partnership and announce the first WuXiBody™ partnership since we globally launched the exciting platform this month," said Dr. Chris Chen, Chief Executive Officer of WuXi Biologics. "Our proprietary WuXiBody™ bispecific platform addresses technical limitations of bispecific platforms and tremendously reduces cost of making these biologics. We have achieved 16g/L in cell culture titer, 95+% purity after one-step Protein A purification and 95+% yield for Protein A step. WuXi Biologics will continue to invest to develop next-generation globally leading technologies to transform biologics discovery, development and manufacturing."