I-Mab Shares Gain On Licensing Pact For Its Human Growth Hormone In China

I-Mab IMAB has collaborated with Jumpcan Pharmaceutical Group to develop, manufacture, and commercialize eftansomatropin alfa (TJ101) in mainland China.
Eftansomatropin alfa is I-Mab's long-acting recombinant human growth hormone.
I-Mab will continue to lead the ongoing registrational Phase 3 trial of eftansomatropin alfa in pediatric growth hormone deficiency (PGHD).
The two companies will share costs of manufacturing tech transfer, process optimization, and new formulation development.
Jumpcan will pay I-Mab a total of up to RMB 2.016 billion (approximately $315 million), including the upfront payment of RMB 224 million (roughly $35 million).
PGHD is a rare disease characterized by the inadequate secretion of growth hormone from the pituitary gland.
Price Action: IMAB shares are up 8.08% at $62.10 during the premarket session on the last check Wednesday.