I-Mab Appointed Wei Fu As New Chair As Dr. Pamela M. Klein Stepped Down From Interim Role, Named Dr. Sean Xi-Yong Fu As Interim CEO, Effective July 15, Taking Over From Raj Kannan

I-Mab (NASDAQ:IMAB) (the "Company" or "I-Mab"), a U.S.-based, global biotech company, announced today that the Board of Directors of the Company has appointed Mr. Wei Fu as the Chairman of the Board of Directors. He succeeds Dr. Pamela M. Klein, who steps down from I-Mab's Board of Directors and the Interim Chairperson position.  Mr. Wei Fu has served as a member of the I-Mab Board of Directors since June 2018 and is the Chief Executive Officer of CBC Group, a healthcare asset management firm and the founding and largest shareholder of I-Mab.

In addition, Mr. Raj Kannan intends to leave his role as Chief Executive Officer and as a member of the Company's Board of Directors, effective July 15, 2024.  Mr. Kannan will stay as an advisor of the Company until July 31, 2024 to assist with the transition.  This decision follows a mutual agreement with the Board of Directors.  Dr. Sean Xi-Yong Fu has assumed the role of Interim Chief Executive Officer and a member of the Board of Directors, effective July 15, 2024.