Building on Goodwin's strategy of sitting at the convergence of capital and innovation, a team of lawyers from the firm's Private Equity and Life Sciences groups advised Hillhouse Capital on leading a consortium of institutional investors that entered into definitive subscription agreements with I-Mab (Nasdaq: IMAB) to raise US$418 million through a private placement.
The consortium includes significant participation by GIC, as well as certain other leading Asian and U.S. biotech investment funds such as Avidity Partners, OrbiMed, Octagon Capital Advisors, Invus, Lake Bleu Capital, Perceptive Advisors, Cormorant Asset Management, Sphera Healthcare and Alyeska Investment Group, L.P.
The private placement comprises the sale to the investors of approximately US$418 million of I-Mab’s ordinary shares and warrants to subscribe for additional ordinary shares.
Hillhouse Capital is a long-term investor focused on partnering with world-class entrepreneurs to redefine their industries. I-Mab is a dynamic, global biotech company exclusively focused on discovery, development and commercialization of novel or highly differentiated biologics in the therapeutic areas of immuno-oncology and autoimmune diseases. I-Mab will receive all proceeds from the private placement and intends to utilize them to fund the ongoing and planned research and clinical programs globally as well as the development of its commercialization capabilities in China.
The Goodwin team was led by Yash Rana, Kingsley Taft, Chi Pan, and Edwin O’Connor, and included partners Jacob Osborn and Dan Karelitz.
For more details, read the press release.
The consortium includes significant participation by GIC, as well as certain other leading Asian and U.S. biotech investment funds such as Avidity Partners, OrbiMed, Octagon Capital Advisors, Invus, Lake Bleu Capital, Perceptive Advisors, Cormorant Asset Management, Sphera Healthcare and Alyeska Investment Group, L.P.
The private placement comprises the sale to the investors of approximately US$418 million of I-Mab’s ordinary shares and warrants to subscribe for additional ordinary shares.
Hillhouse Capital is a long-term investor focused on partnering with world-class entrepreneurs to redefine their industries. I-Mab is a dynamic, global biotech company exclusively focused on discovery, development and commercialization of novel or highly differentiated biologics in the therapeutic areas of immuno-oncology and autoimmune diseases. I-Mab will receive all proceeds from the private placement and intends to utilize them to fund the ongoing and planned research and clinical programs globally as well as the development of its commercialization capabilities in China.
The Goodwin team was led by Yash Rana, Kingsley Taft, Chi Pan, and Edwin O’Connor, and included partners Jacob Osborn and Dan Karelitz.
For more details, read the press release.