I-Mab (IMAB) rises due to joint development of Lemzoparlimab with AbbVie to treat multiple cancers

Biotech companies sometimes cooperate in creating various treatment programs. This time AbbVie and I-MAb decide to collaborate in developing and distributing of I-MAb’s cancer treating medicine Lemzoparlimab which is claimed to be treating multiple cancers.

They need to spend nearly $2 billion for the big project as a cancer treatment is one of the toughest issues of healthcare firms. Chinese biotech firms cant alone attract funds from overseas and they need to search a partner from the West to open a funding channel in the development of complex treatment therapies.

If the collaboration goes well both companies may earn billions of revenue from healthcare center which treat patients with various type of cancer. Right now both stocks IMAB and ABBV are rising along with other biotech shares. Mostly coronavirus stocks are getting new buyers who normally want to make quick margins.

Anthony Gonzales

Biotech, Tech, and Crypto reporterAnthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.