NovaBridge Biosciences ADR Dossier
Qualitative Analysis
Business overview
NovaBridge Biosciences (Nasdaq: NBP), formerly known as I-Mab, is a global clinical-stage biotechnology platform company dedicated to accelerating access to innovative medicines. Operating under a hub-and-spoke business model, the company focuses on asset acquisition at early clinical or IND-enabling stages, leveraging deep translational expertise and global clinical execution to bridge Asian innovation to global markets. Its core therapeutic focus is oncology, led by its primary asset givastomig (a potential best-in-class CLDN18.2 x 4-1BB bispecific antibody for gastric cancer). Additionally, through its majority-owned subsidiary Visara, Inc., NovaBridge is developing VIS-101 (a VEGF-A/ANG2 bispecific antibody) for retinal vascular diseases such as wet age-related macular degeneration (wet AMD).
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Transitioned from a China-focused biotech (formerly I-Mab) to a global biotechnology platform company. The model focuses on establishing specialized, asset-specific satellite subsidiaries (spokes) to enhance operational focus, agility, and risk management.
Expected impact: Improves operational flexibility, reduces risk per asset, and positions the company to access dual capital markets (NASDAQ and HKEX).
Pursuing a dual primary listing of ordinary shares on the Main Board of the Stock Exchange of Hong Kong Limited (HKEX) alongside its existing NASDAQ listing.
Expected impact: Expands access to global capital and innovation, attracting a broader base of international and Asian investors.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquisition of VIS-101, a novel bifunctional biologic targeting VEGF-A and ANG2 for retinal vascular diseases. The transaction was executed through the newly formed subsidiary Visara, Inc., launched with a $37 million capital infusion from NovaBridge and asset contributions from AffaMed Therapeutics.
Financial impact: Expanded R&D expenses in FY2025 due to the acquisition and initial clinical development costs, offset by the strategic value of a Phase 3-ready asset.
Strategic Partnerships
Visara assigned Everest Medicines the rights to develop, commercialize, and exploit VIS-101 in key Asian territories including Singapore, Thailand, Malaysia, Indonesia, Vietnam, China, Korea, and India.
Terms: Specific financial terms remain confidential, but the partnership shares the development burden and leverages Everest's regional commercial capabilities.
Collaboration for the clinical development of givastomig in combination with standard-of-care therapies, including nivolumab.
Terms: Collaborative clinical trial support.