Deals
Chinese Drug Developer I-Mab Biopharma Files for U.S. IPO
- Company is seeking up to $40 million in private funding round
- I-Mab previously considered selling shares in Hong Kong
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I-Mab Biopharma Co., a Chinese drug developer, has filed confidentially for a U.S. initial public offering as the company works on a private fundraising, according to people with knowledge of the matter.
The firm is working with financial advisers on the U.S. share sale that could raise about $200 million, said the people, asking not to be identified because the information is private. The company is poised to raise about $30 million to $40 million in its latest funding round, valuing the business at $800 million, one of the people said.