I‑Mab Biopharma has announced a sweeping corporate transformation aimed at establishing a new global biotechnology platform under the brand NovaBridge Biosciences.

As part of this transition, the company will seek a dual listing on NASDAQ and the Hong Kong Stock Exchange (HKEX) through a planned initial public offering (IPO) in Hong Kong. The name change to NovaBridge Biosciences is expected to take effect following shareholder approval at an Extraordinary General Meeting (EGM) on 24 October 2025.

Executive Chairman Fu Wei described the transformation as a milestone for the company: “We believe we are entering a new era of rapid growth in the global biotech economy. With our new model and dual listing strategy, we are well-positioned to create significant value for patients and investors.”

The move reflects a strategic pivot toward business development and translational clinical research to accelerate patient access to innovative medicines worldwide.

Dual Listing to Expand Global Reach

The Hong Kong IPO is designed to enhance access to capital, broaden investor exposure, and deepen ties to Asia’s fast-growing biotech sector. I-Mab sees strong potential in Asia-Pacific, which now contributes over 30% of global biopharma assets and more than US$80 billion in deal value through regional collaborations.

According to the company, the dual listing will strengthen liquidity and provide direct access to the region’s dynamic capital markets while maintaining its US presence. Final terms and timing for the IPO will depend on regulatory approvals and market conditions.

To support its transformation, I-Mab appointed Kyler Lei as Chief Financial Officer. Lei brings extensive experience in global capital markets from his tenure at Sino Biopharmaceutical Limited. He will oversee corporate finance, investor relations, and capital strategy as the company prepares for its dual listing.

CEO Sean Fu, PhD, expressed confidence in the leadership team’s ability to execute the company’s ambitious strategy: “2025 has been a year of strong progress. With new capital, an expanded leadership team, and our strategic partnerships, we’re ready to accelerate innovation on a global scale.”

Acquisition of VIS-101 and Launch of Visara

As part of its reorganization, I-Mab announced the pending acquisition of VIS-101 (formerly AM712/ASKG712), a novel bifunctional biologic targeting VEGF-A and ANG2 for treating wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME).

The deal will be executed through Visara, Inc., a newly formed subsidiary specializing in ophthalmic therapeutics. VIS-101, currently in Phase II trials, has shown promise as a potential best-in-class treatment with durable efficacy and safety profiles. Visara will launch with an initial US $37 million capital infusion and will be led by Emmett T. Cunningham, Jr., a veteran biotech innovator and investor.

Dr. Cunningham commented: “VIS-101 has best-in-class potential based on its superior bioengineered properties. We aim to accelerate its global clinical development through Visara’s dedicated North American and Asian teams.”

Expanding Pipeline and Global Partnerships

NovaBridge Biosciences will operate a hub-and-spoke model, creating specialized subsidiaries to advance assets in key therapeutic areas. Its leading pipeline assets include:

• Givastomig, a Claudin 18.2 x 4-1BB bispecific antibody for gastric cancer, is entering Phase II trials in 2026.
• Ragistomig, an anti-PD-L1 x 4-1BB bispecific antibody in Phase Ib development.
• Uliledlimab, a CD73 inhibitor targeting adenosine-driven tumour immunosuppression.
• VIS-101, the newly acquired ophthalmology asset advancing toward Phase III readiness in 2026.

These programs are bolstered by strategic partnerships, including cooperation with ABL Bio for bispecific antibody development and ongoing collaborations in China and the US.

By rebranding as NovaBridge Biosciences, I-Mab is signaling a shift from a single-entity biotech company into a global, multi-subsidiary development platform. The aim is to improve operational flexibility, reduce risk per-asset through the “spoke” model, access dual capital markets, and position the company to scale its global development footprint.

The acquisition of VIS-101 via Visara underscores the strategy of setting up specialized units that can attract dedicated investments and partnerships. The appointment of a CFO with Asia—and Hong Kong—investor market experience further supports this global acceleration.

Rebrands & Restructuring in Pharma

In recent years, the pharmaceutical industry has seen a marked increase in corporate rebrands, spin-offs, and structural reorganizations, driven by the need to sharpen strategic focus, unbundle consumer versus innovative businesses, and respond to changing market dynamics. For example:

• Sanofi unveiled a fresh corporate identity in 2022 with a new lowercase logo and design that signaled a unified, innovation-driven company, bringing its acquired businesses such as Genzyme and Pasteur under one brand.
• Johnson & Johnson announced phasing out the legacy brand name Janssen in favor of “Johnson & Johnson Innovative Medicine” for its pharmaceutical division, aligning its identity with its mission and simplifying the brand architecture.

These moves reflect several drivers: separating lower-margin consumer or generics divisions (e.g., spin-offs), sharpening focus on innovation and specialty therapies, branding alignment post-M&A, and geographic expansion into growth markets.

In the case of I-Mab, the rebrand is part of a transformation into a biotech platform, dual listing strategy, and creation of specialized subsidiaries — in line with these broader industry currents.

Such strategic repositioning often accompanies cost restructuring, portfolio rationalization (such as asset divestitures or pipeline pruning) and reorganizing R&D or commercial operations to align with new priorities. For instance, restructuring initiatives like job cuts or consolidated units have become common across Big Pharma as they pivot to innovation-led models and away from blockbusters.

The rebrand and restructure trend is clear: biotech and pharma companies are rethinking identity, structure, capital access and geographic footprint to stay competitive in a rapidly evolving healthcare landscape.