I-Mab Teams up With Genexine to Treat Brain Cancer

The biotech company exclusively gained rights from Genexine to develop and commercialize cancer treatment products in Greater China.

Belinda Zhou
    May 21, 2020 10:15 AM  PT
I-Mab Teams up With Genexine to Treat Brain Cancer
author: Belinda Zhou   

The immunology-focused biopharmaceutical company I-Mab (Nasdaq: IMAB) announced on Thursday that the authority in China has signed off on a clinical development plan to treat patients with a low level of white blood cells.

The Shanghai and Maryland-based company announced on Thursday that the China National Medical Products Administration has approved the initiation of Phase Two clinical trial of TJ107/HyLeukin-7™, or Efineptakin alfa. 

The recombinant protein is developed by Genexine Inc. (KOSDAQ: 095700) from South Korea and China's I-Mab Biopharma for the treatment of patients with newly-diagnosed glioblastoma multiforme(GBM). 

GBM is the most aggressive type of cancer that begins within the brain, accounting for 17% of new cases of brain and nervous system cancers; these cancers reached 76,494 in China, according to data from World Health Organization in 2018.

I-Mab also announced further collaboration with Genexine, while I-Mab will lead the Phase 2 GBM clinical trial in China with the assistance of Genexine, according to the statement.

"I-Mab's expanded collaboration with Genexine speaks volumes of our productive partnership and excellent progress made to date, which brings us a step closer to deliver on our promise to help patients in need," Joan Shen, the chief executive officer of I-Mab, said.

The biotech company announced Wednesday that its Hong Kong office was formally established, designed to become a regional hub to tap into Hong Kong capital markets. 

"We are very pleased that the Hong Kong office has become a part of the global layout of I-Mab," Jingwu Zang, the founder of I-Mab, said in the statement.

I-Mab has offices in Beijing, Shanghai, Hong Kong and Maryland, United States.

The company raised $103.7 million in its IPO on January 17, after Zai Lab Ltd.'s (Nasdaq: ZLAB) $173 million offering in 2017.

I-Mab has over 10 drug candidates in the pipeline in the therapeutic areas of immuno-oncology and autoimmune diseases. 

Shares in I-Mab gained over 55% since 2020, trading at $21.7 per share midday Thursday, down 4%.