I-Mab announced Mr. Raj Kannan intends to leave his role as chief executive officer, 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, effective July 15, 2024. In addition to being Interim CEO of I-Mab, Dr. Sean Fu is also an Operating Partner of ABio-X. Before joining ABio-X, Dr. Fu was co-founder and CEO of RVAC Medicines,. Prior to founding RVAC, Dr. Fu was Group VP and head of International R&D for Luye Pharma.

He was also the CEO of GeneLeap. Previously, Dr. Fu worked at Merck & Co. for 15 years with responsibilities covering R&D, business development, finance and operational management.

His work at Merck included management of the finances for the late-stage clinical portfolio and leading the integration of global R&D network following the landmark $42 billion merger between Merck and Schering-Plough. Dr. Fu earned a Master's and PhD degrees in materials science and engineering from Ohio State University, and an MBA from the Wharton School of University of Pennsylvania.