September 19, 2019
Jielun Zhu
Chief Financial Officer
I-Mab
Suite 802, West Tower, OmniVision
88 Shangke Road, Pudong District
Shanghai, 201210
People's Republic of China
Re: I-Mab
Amendment No. 1 to Draft Registration Statement on Form F-1
Submitted September 5, 2019
CIK No. 0001778016
Dear Mr. Zhu:
We have reviewed your amended draft registration statement and have the
following
comments. In some of our comments, we may ask you to provide us with
information so we
may better understand your disclosure.
Please respond to this letter by providing the requested information and
either submitting
an amended draft registration statement or publicly filing your registration
statement on
EDGAR. If you do not believe our comments apply to your facts and circumstances
or do not
believe an amendment is appropriate, please tell us why in your response.
After reviewing the information you provide in response to these comments
and your
amended draft registration statement or filed registration statement, we may
have additional
comments.
Amendment No. 1 to Draft Registration Statement on Form S-1 submitted September
5, 2019
Prospectus Summary
Overview, page 1
1. We note your response to prior comment 1 and your continued references
to potentially
"first-in-class" or "best-in-class" product candidates. We continue to
object to these terms
as implying your product candidates are likely to be approved and/or
that you will be
successful in achieving a given market share, which are inappropriate
for you to imply
given the uncertainty in the development of biologics. As illustrative
examples, we will
not object to disclosure stating that TJ107 is the first long-acting
recombinant human
Jielun Zhu
FirstName LastNameJielun Zhu
I-Mab
Comapany 19, 2019
September NameI-Mab
Page 2
September 19, 2019 Page 2
FirstName LastName
interleukin-7, Enoblituzumab is the most advanced clinical stage
humanized antibody
targeting T cell checkpoint regulator B7-H3, and TJX7 is the first
humanized neutralizing
antibody targeting CXCL13 chemokine.
Our Global Strategic Collaborations, page 5
2. We note your response to comment 15. Please expand your Summary
disclosure to
disclose that you are the sublicensee under your agreement with
Ferring International
Center SA related to TJ301, as discussed on page 186.
Business
Collaboration Agreement with MacroGenics (enoblituzumab), page 186
3. We note your response to prior comment 16 and your revised disclosure
indicating that
unless prohibited by applicable laws and regulations, you will co-own
all clinical data and,
to the extent joint ownership is not legally permitted, MacroGenics
will be the sole and
exclusive owners of such clinical data. Please revise to explain your
reference to
applicable law or regulation that would preclude you from joint
ownership and, to the
extent known and applicable, disclose whether you currently qualify
for joint ownership.
Taxation
PRC Taxation, page 274
4. We note your response to comment 19, which we reissue in part. Please
revise your
disclosure to clearly state that the disclosure in this section is the
opinion of named
counsel.
Exhibits
5. It appears your are attempting to redact information pursuant to Item
601(b)(10)(iv) of
Regulation S-K from Exhibits 10.14, 10.15, 10.16, 10.18, 10.19, 10.20,
and 10.21. Please
revise your Exhibit Index as appropriate and refile these exhibits to
include on the first
page of each redacted exhibit the legend required by Item
601(b)(10)(iv) of Regulation S-
K or refile the complete agreement. We note your reference to Rule 406
with respect to
Exhibits 10.13 and 10.17. Please tell us whether you plan to submit an
application for
confidential treatment pursuant to Rule 406 or advise.
Jielun Zhu
I-Mab
September 19, 2019
Page 3
You may contact Christine Torney at 202-551-3652 or Kevin Vaughn at
202-551-3494 if
you have questions regarding comments on the financial statements and related
matters. Please
contact Jeffrey Gabor at 202-551-2544 or Christine Westbrook at 202-551-5019
with any other
questions.
Sincerely,
FirstName LastNameJielun Zhu
Division of
Corporation Finance
Comapany NameI-Mab
Office of Healthcare &
Insurance
September 19, 2019 Page 3
cc: Z. Julie Gao, Esq.
FirstName LastName