I-Mab In Talks With Pharma Giants About Partnership, Stake Sale: Bloomberg

A year after I-Mab (NASDAQ:IMAB) made headlines with its $2.9 billion deal licensing a CD47 drug to AbbVie Inc (NYSE:ABBV), the biotech is reportedly holding talks with big pharma players about partnerships and potential investment.
Bloomberg broke the news of the "early talks" with global biopharma companies citing people familiar with the matter.
I-Mab is reportedly conducting a strategic review that could lead to cooperation on clinical development in China or the sale of an equity stake.
Bloomberg reported that the company is also in talks with potential financial advisers for the review.
The article, which says I-Mab is also talking to potential financial advisers, follows a report in June that the biotech is seeking a partner for its anti-CD73 antibody uliledlimab.
Work on an uliledlimab deal is continuing, with the goal being to replicate the success of the 2020 agreement with AbbVie.
AbbVie paid $180 million and committed to almost 10 times as much in milestones for the rights to anti-CD47 antibody lemzoparlimab outside of greater China.
Price Action: IMAB stock is up 3.91% at $72.07 during the market session on the last check Wednesday.