I-Mab (the "Company") (Nasdaq: IMAB), a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics, today announced that it will establish a new site focusing on Translational Medicine and Formulation Research in San Diego. The state-of-the-art, integrated laboratory and office space will strengthen the Company's worldwide development capabilities, further reinforcing I-Mab's ability to conduct global clinical studies across China and the U.S.

"Our vision for our new San Diego location is to establish a world-class research and operational site as part of I-Mab US R&D Center that will support our mission to deliver first and best in class medicines to patients worldwide," said Dr. Jingwu Zang, Founder, Chairman and Director of I-Mab. "We're very excited about our new research site in San Diego, which will complement our research and development facilities around the world to advance our innovative pipeline globally."

"As a dynamic and growing U.S. biotech hub, San Diego was a great choice due to its large pool of biopharma talent and proximity to many of the world's leading research institutions," said Neil Warma, General Manager of I-Mab US. "We have been able to attract world-class individuals across several key functions to our new San Diego location and are completing final construction of the site, with move-in planned toward the end of the year. It's a very exciting time for I-Mab as we expand our capabilities strategically to conduct clinical development on a global scale to advance novel therapies for patients," Mr. Warma added.

Founded in 2016, I-Mab is committed to bringing innovative treatments for cancer to patients globally, drawing on the scientific strengths of the Company in immuno-oncology and its robust pipeline of 20 innovative assets in development. The San Diego site will serve as one of strategic sites for I-Mab's global drug development efforts, and will include a comprehensive biomarker platform that will support current and future clinical trials. The new research site will be an integral part of I-Mab's US R&D Center together with the Global Clinical Development site established in 2018 in Gaithersburg, Maryland, which is focused on global clinical development and regulatory affairs.

The Company is preparing for rapid growth over the next two years through significant investments in the United States to support development of its innovative pipeline.  The facility will serve as a specialized research site for worldwide development efforts alongside the hiring of key talent in immuno-oncology, translational medicine, Chemistry, Manufacturing, and Controls (CMC).