I, Feb. 9 -- Mab, a global biotech company exclusively focused on bringing highly differentiated immunotherapies and biologics for cancer treatment to patients around the world, has announced that as part of its strategy to become a US-based biotech, its Chinese subsidiaries have entered into definitive agreements with I-Mab Biopharma (Hangzhou), an unconsolidated affiliate of the company, and a group of China-based investors to divest the company's assets and business operations in China.

Pursuant to the definitive agreements, the company will transfer 100% of the outstanding equity interest in I-Mab Biopharma Co. (I-Mab Shanghai), a wholly owned subsidiary of the company that operates the company's business in China, on a cash-free and...