Private equity firm Hillhouse Capital led a $418m investment in I-Mab, a clinical stage biopharmaceutical company committed to the discovery, development and commercialization of novel biologics, with significant participation by GIC, and Avidity Partners, OrbiMed, Octagon Capital Advisors, Invus, Lake Bleu Capital, Perceptive Advisors, Cormorant Asset Management, Sphera Healthcare and Alyeska Investment Group. "Our latest investment in I-Mab is a perfect example of Hillhouse's long-term commitment to funding pioneering innovation in life sciences. We see in I-Mab the same qualities that have propelled other biotech companies to success: clear scientific vision, unswerving focus on innovation and flawless execution. We are delighted to partner with an industry leader like I-Mab to scale new heights in its quest for truly transformative therapies," Michael Yi, Hillhouse Co-CIO.