I-Mab Biopharma Announces New CFO
SHANGHAI, July 31, 2018 /PRNewswire/ -- On August 1, 2018 Beijing time, I-Mab Biopharma ("I-Mab"), a Shanghai-based biotech company focused on innovative biologics in oncology and autoimmune disease, announced the appointment of Jielun Zhu as Chief Financial Officer (CFO). Mr. Zhu will report directly to Dr. Jingwu Zang, Chairman and CEO of I-Mab. Mr. Zhu has over 15 years of experience working across investment banking and strategy consulting for global and regional healthcare clients.
"We are extremely pleased to have Jielun join I-Mab. His expertise and prior experience in the healthcare financial management makes him a vital addition to I-Mab's senior leadership," said Dr. Zang. "Jielun's joining comes at a critical time when our business becomes more global and requires strong financial strategy and corporate partnerships," added Dr. Zang.
Immediately prior to joining I-Mab, Mr. Zhu was Managing Director and Asia Head of Healthcare Investment Banking and Capital Markets in Hong Kong for Jefferies Group LLC. At Jefferies, he led many high-profile IPOs, M&A and other strategic transactions for biotechnology and other healthcare clients in the Greater China region and beyond. Before Jefferies, he worked for Deutsche Bank in its Hong Kong office as a senior member of the healthcare coverage team and for UBS AG in Hong Kong prior to that. Before investment banking, Mr. Zhu was a strategy consultant in Boston serving clients in the pharmaceutical and biotechnology industry in the US.
Mr. Zhu earned his M.B.A. from the Harvard Business School with distinction and B.A. with honors from Wesleyan University. He is also a CFA charter holder.
"I strongly believe I-Mab is one of the most innovative companies focusing on developing first-in-class and best-in-class biologics in oncology and autoimmune disease for patients in China and around the world," commented Mr. Zhu. "The Company has many globally competitive assets in its China and Global Portfolio that are being advanced rapidly. Dr. Zang has successfully built a world-class team and I look forward to joining that team to continue to bring transformational medicines to address the highest unmet needs in our target therapeutic areas."
In June 2018, I-Mab successfully completed US$220million financing, which is one of the largest Series C funding in China's biopharmaceutical industry, following its Series B financing of US$150 million in 2017. The company recently announced an US$100 million out-licensing deal with Korean biotech ABL Bio Corporation.
Facilitated by a merger between Third Venture Biotech and Tasgen Bio, which was followed by a Series B financing of USD 150 million in 2017, I-Mab has rapidly built a highly experienced team with world-class R&D capabilities. On June 29, 2018, I-Mab announced that it had successfully raised US$220 million in Series C financing with a group of reputable investors led by Hony Capital, representing one of the largest amount ever raised in Series C by an innovative biotech company in China.
I-Mab focuses on discovery and development of First-in-Class and Best-in-Class biologics in the areas of immuno-oncology and immuno-inflammation. The company has already initiated a Phase 2 clinical trial and is prepared to submit multiple IND applications for additional clinical trials in China and the US, including Phase 2 and Phase 3 studies. www.i-mabbiopharma.com
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SOURCE I-Mab Biopharma