I-Mab entered into a definitive agreement to acquire 100% ownership of Bridge Health Biotech Co., Ltd., a strategic move to strengthen the intellectual property rights for its lead program, givastomig. The transaction provides I-Mab with rights to bispecific and multi-specific applications based on the Claudin 18.2 (CLDN18.2) parental antibody used in givastomig.
Under the terms of the agreement, I-Mab will make an upfront payment of $1.8 million to Bridge Health shareholders, along with non-contingent payments of $1.2 million through 2027. Additionally, Bridge Health shareholders may receive up to $3.875 million in future milestone payments, contingent on development and regulatory achievements.
This acquisition is expected to enhance the value of givastomig by strengthening upstream intellectual property rights, reducing future milestone payments, and unencumbering givastomig of future royalties. The CLDN18.2 parental antibody has demonstrated higher affinity to human CLDN18.2 and stronger binding to cells with low CLDN18.2 expression, supporting givastomig's potential as a best-in-class therapy.
The transaction is expected to close in the third quarter of 2025. Concurrently, I-Mab updated its timeline for topline results from the Phase 1b dose expansion combination study for givastomig, now anticipating them in the first quarter of 2026, an acceleration from previous guidance.
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