Engagement is part of I-Mab's commitment to
transition to a U.S.-based biotech
PwC to serve as independent registered public
accounting firm for FY 2024
ROCKVILLE, Md., Aug. 7, 2024
/PRNewswire/ -- I-Mab (NASDAQ: IMAB) ("I-Mab", the "Company"),
a U.S.-based, global biotech company, exclusively focused on the
development and potential commercialization of highly
differentiated immunotherapies for the treatment of cancer, today
announced that the Audit Committee of its Board of Directors has
approved the appointment of PricewaterhouseCoopers LLP (U.S.) ("PwC
US") as the Company's independent registered public accounting firm
for the fiscal year ending December 31,
2024, effective immediately.
"I-Mab continues to achieve excellent progress towards our
strategic objective of becoming a U.S.-based biotech," said
Sean Fu, PhD, Board Member and
Interim Chief Executive Officer
of I-Mab. "The appointment of PwC US as our U.S. auditor is another
important milestone in this transition, underscoring our progress
and commitment to the strategy and vision defined by the
Board."
I-Mab expects that the transition to a U.S. audit firm will
enable the Company to continue to comply with the audit
requirements of the Holding Foreign Companies Accountable Act and
facilitate the continued transition of the Company to a
full-fledged U.S.-based biotech company. This transition was not
the result of any disagreements, reportable events, modified
opinions, or unresolved matters with the Company's previous
auditor, and no matters regarding the transition need to be brought
to the attention of the Company's shareholders.
"We are enthusiastic to work with PwC US and believe that their
engagement as our U.S. auditor aligns with the long-term interests
of our shareholders," said
Joseph Skelton, Chief Financial
Officer of I-Mab. "We continue to grow and advance our
organization and corporate governance with a focus on supporting
I-Mab's long-term growth and look forward to keeping investors up
to date on our progress."
For more information on this change in the Company's independent
registered public accounting firm, please refer to the 6-K filing
that the Company filed with the U.S. Securities and Exchange
Commission ("SEC") today, available on the Company's website at
www.i-mabbiopharma.com and on the SEC's website at
www.sec.gov.
About I-Mab
I-Mab (NASDAQ: IMAB) is a U.S.-based, global biotech company,
exclusively focused on the development and potential
commercialization of highly differentiated immunotherapies for the
treatment of cancer.
I-Mab has established operations in Rockville, Maryland. For more
information, please
visit https://www.i-mabbiopharma.com and follow us
on LinkedIn and X.
Forward Looking Statements
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the US
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will", "expects", "believes", "designed to", "anticipates",
"future", "intends", "plan", "promise", "potential", "estimate",
"confident", "explore", "optimistic about", "look forward to", and
similar terms or the negative thereof. Statements that are not
historical facts, including statements about I-Mab's beliefs and
expectations, are forward-looking statements. The forward-looking
statements in this press release include, without limitation,
statements regarding the engagement of PwC US and expectations
relating to the impact of such engagement on compliance with audit
requirements and the Company's transition to a U.S.-based biotech
company. These forward-looking statements involve inherent risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied in such forward-looking
statements. These risks and uncertainties include, but are not
limited to, the following: I-Mab's ability to demonstrate the
safety and efficacy of its drug candidates; the clinical results
for its drug candidates, which may not support further development
or New Drug Application/Biologics License Application approval; the
content and timing of decisions made by the relevant regulatory
authorities regarding regulatory approval of I-Mab's drug
candidates; I-Mab's ability to achieve commercial success for its
drug candidates, if approved; I-Mab's ability to obtain and
maintain protection of intellectual property for its technology and
drugs; I-Mab's reliance on third parties to conduct drug
development, manufacturing and other services; I-Mab's limited
operating history and I-Mab's ability to obtain additional funding
for operations and to complete the development and
commercialization of its drug candidates; and discussions of
potential risks, uncertainties, and other important factors in
I-Mab's most recent annual report on Form 20-F and I-Mab's
subsequent filings with the SEC. I-Mab may also make written or
oral forward-looking statements in its periodic reports to the SEC,
in its annual report to shareholders, in press releases and other
written materials, and in oral statements made by its officers,
directors, or employees to third parties. All forward-looking
statements are based on information currently available to I-Mab.
I-Mab undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as may be required by law.
I-Mab Contacts
Investors &
Media
|
Tyler Ehler
|
Senior Director,
Investor Relations
|
IR@imabbio.com
|
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SOURCE I-Mab Biopharma