RE:RE:RE:RE:RE:RE:RE:RE:USA Inflation Reduction Act (IRA) 2022 Re: Biotech and ChinaIn June 2022 MorphoSys (the subject of Novartis February 2024 US$ 2.9 Billion acquisition) signed a new licensing and equity deal with I-Mab, a 100% Chinese owned and directed company.
I-Mab was specifically granted rights to MOR210 in China, Hong Kong, Macau, Taiwan and South Korea, in accordance with a geographical carve-out in the deal with HIBio.
On April 2, 2024, the Company (I-Mab ) transferred 100% of the outstanding equity interest in I-Mab Biopharma Co., Ltd. (“I-Mab Shanghai”) to I-Mab Biopharma (Hangzhou) Co., Ltd. (the “Hangzhou Company”), on a cash-free and debt-free basis, for an aggregate consideration of the RMB equivalent of up to US$80 million, contingent on the Hangzhou Company group’s achievement of certain future regulatory and sales-based milestone events.
https://www.i-mabbiopharma.com/i-mab-announces-closing-of-the-divestiture-of-business-operations-in-china/