-- New business model reflects strategic transition to a global biotech 
      platform focused on business development and translational clinical 
      development to accelerate access to innovative medicines for patients 
      worldwide 
 
   -- Intention to pursue a Hong Kong initial public offering (IPO) to expand 
      access to global capital and innovation through dual listing on NASDAQ 
      and Hong Kong Stock Exchange (HKEX) 
 
   -- Name change to be effective following shareholder approval, which is 
      expected at the Extraordinary General Meeting (EGM) on October 24, 2025 
 
   -- Pending acquisition of AM712 (also known as ASKG712), to be named 
      VIS-101, a novel bifunctional biologic targeting VEGF-A/ANG2, and a more 
      potent molecule that could potentially provide more effective and durable 
      treatment benefits for patients with wet AMD and DME than current 
      standard of care. The pending acquisition will be completed by a newly 
      formed subsidiary Visara, Inc., a clinical-stage biopharmaceutical 
      company focused on the development of ophthalmic therapeutics for serious 
      eye disorders 
 
   -- Appointment of Mr. Kyler Lei as Chief Financial Officer, bringing 
      significant expertise in Hong Kong and global capital markets 

ROCKVILLE, Md., Oct. 16, 2025 (GLOBE NEWSWIRE) -- I-Mab $(IMAB)$ (I-Mab or the Company), a global biotechnology platform company committed to accelerating access to innovative medicines for patients worldwide, announced its new business model, focused on its global capabilities built to accelerate access to innovative medicines and to enable broad strategic growth. The Company announced its intention to pursue a Hong Kong IPO through dual listing on NASDAQ and Hong Kong Stock Exchange (HKEX). The Company intends to operate under the new name of NovaBridge Biosciences.

The Company also announced the pending acquisition of VIS-101, a novel bifunctional biologic targeting VEGF-A and ANG2, and a more potent molecule that could potentially provide more durable treatment benefits for patients with wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME) than current standard of care. The pending acquisition will be made by a newly formed subsidiary, Visara, Inc. (Visara), a clinical-stage biopharmaceutical company focused on developing ophthalmic therapeutics for serious eye disorders, and is expected to be completed later this month.

In addition, the Company reaffirmed its previously announced givastomig investment plans as part of its new strategy.

Mr. Kyler Lei has been named Chief Financial Officer (CFO) of I-Mab, bringing significant expertise in the Hong Kong and global capital markets.

The Company sees a significant growth potential from the Asia Pacific originated biopharma innovations. Confidence in this opportunity comes from emerging trends showing that the Asia Pacific region has generated more than 30% of global biopharma assets under development, and has achieved more than $80B in deal value through collaborations with leading multi-national pharmaceutical organizations. In addition, the Asia Pacific biopharmaceutical ecosystem has become increasingly agile and efficient, with significantly lower clinical trial costs and faster patient enrollment than the global median, while maintaining high quality standards(1) .

"We believe we are entering a new era of rapid growth in the global biotech economy, driven by greater innovation capability in China and Asia and a resurgence of investment in high growth international markets across Asia. With our new business model, we are uniquely positioned to strategically create significant value for patients and investors," said Mr. Fu Wei, Executive Chairman of I-Mab. "Through the strategic insight of our expanded Board, backing by CBC Group, Asia's largest dedicated healthcare asset management firm, and our dual listing strategy, I-Mab is ideally placed to partner with leading global innovators to identify and accelerate high-value assets. The proposed dual listing on both NASDAQ and HKEX is a key element of our global growth strategy. This move will enable us to broaden and diversify our investor base, and enhance trading liquidity and access to capital, while strengthening our presence with key stakeholders in the rapidly growing Asian market."

"2025 has been a time of significant progress for I-Mab. Presentation of compelling Phase 1b givastomig combination data reinforced our confidence in its potential to be a best-in-class Claudin 18.2-directed therapy for gastric cancer and drove our plans to initiate a global randomized Phase 2 study, expected to begin in Q1 2026. In addition, the Company recently secured additional capital, and has attracted seasoned biotech executives to the Board of Directors and Scientific Advisory Board," said Sean Fu, PhD, Chief Executive Officer (CEO) of I-Mab. "With the strong foundation from our work on givastomig, and excellent progress this year, we are optimistic about moving forward with our new strategy. Our new global platform allows us to uphold our commitment to value creation by realizing the full potential of innovative medicines and improving the lives of patients."

The NovaBridge Business Model and Pipeline

The Company intends to partner with leading innovators to identify and accelerate high-value assets. Our model integrates rigorous asset selection, bespoke translational strategies, and efficient clinical execution. With the backing of CBC Group, we leverage deep local insights and global capabilities to develop the most promising drug candidates across a range of therapeutic categories.

The Company will utilize a "hub-and-spoke" model to create and advance specialized subsidiary companies (spokes) which maintain operational focus and agility. By focusing each spoke on a specific asset or therapeutic area, the Company can optimally manage risk and create value through potential partnering transactions.

Pipeline:

   -- Givastomig, a potential best-in-class Claudin 18.2 X 4-1BB bispecific 
      antibody, is in Phase 1b clinical trials for the potential treatment of 
      gastric cancer and other Claudin 18.2-positive gastrointestinal 
      malignancies. A global, randomized Phase 2 study is planned, with the 
      enrollment of the first patient targeted in Q1 2026. Givastomig is being 
      jointly developed through a global partnership with ABL Bio, in which 
      I-Mab is the lead party and shares worldwide rights, excluding Greater 
      China and South Korea, equally with ABL Bio. 
 
   -- Ragistomig is an anti-PD-L1 X 4-1BB bispecific antibody. Built on Phase 1 
      clinical data, an ongoing Phase 1b study designed to expand the 
      therapeutic index is expected to yield results in 2H 2026. The program is 
      being jointly developed with ABL Bio. 
 
   -- Uliledlimab targets CD73, the rate-limiting enzyme critical for 
      adenosine-driven immunosuppression in the tumor microenvironment. 
      Progression free survival $(PFS)$ data are expected in 2H 2026 from an 
      ongoing randomized Phase 2 trial evaluating uliledlimab + toripalimab 
      compared to pembrolizumab alone or toripalimab alone. I-Mab owns 
      worldwide rights to uliledlimab outside of Greater China. 

VIS-101, to be acquired by Visara, a newly formed I-Mab subsidiary, under the new business model, is a bifunctional biologic targeting VEGF-A and ANG2, currently in Phase 2 development

   -- VIS-101 is a novel bifunctional biologic targeting VEGF-A and ANG-2, and 
      a more potent molecule that could potentially provide more durable 
      treatment benefits for patients with wet AMD, DME, and retinal vein 
      occlusion (RVO) than current standard of care. VIS-101 has completed 
      initial safety and dose-escalation studies in both the US and China, and 
      is currently completing a randomized, dose-ranging Phase 2 study in 
      China. VIS-101 is anticipated to be Phase 3-ready in 2026. 
 
   -- Acquisition will be completed by a newly formed subsidiary, Visara. 
      Visara, a clinical-stage biopharmaceutical company focusing on the 
      development of best-in-class ophthalmic therapeutics, will be launched 
      with an approximately $37M capital infusion from I-Mab and the 
      contribution of certain rights by AffaMed Therapeutics (HK) Limited. The 
      capital contributions to Visara and its acquisition of VS-101 
      (collectively, the Transactions) are cross-conditioned, and are expected 
      to close later this month. The Company has also signed a separate 
      termsheet with Everest Medicines (HKEX 1952.HK) to potentially 
      out-license greater China rights for VIS-101 and collaborate on global 
      clinical development. Following completion of the Transactions, I-Mab 
      will be the majority shareholder of Visara, and Visara will control 
      global rights to VS-101. 
 
   -- Visara is led by Co-Founder and Executive Chairman Emmett T. Cunningham, 
      Jr., MD, PhD, MPH. Dr. Cunningham has been a physician, innovator, 
      entrepreneur, and investor for more than 25 years, formerly serving as 
      Senior Managing Director at Blackstone Group L.P. and Managing Director 
      at Clarus Ventures, LLC. Dr. Cunningham is also an internationally 
      recognized specialist in infectious and inflammatory eye disease with 
      over 450 co-authored publications. 

"VIS-101 is anticipated to be second-in-class with best-in-class potential, based on bioengineered, superior target neutralizing capabilities," said Dr. Cunningham, Co-Founder and Executive Chairman of Visara. "Leveraging the speed, quality, and unique advantages of dedicated teams in North America and Asia, Visara will seek accelerated global clinical development and regulatory approvals."

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October 16, 2025 16:05 ET (20:05 GMT)