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Intangible Assests | 9 Months Ended
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Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | 5. Intangible Assets Intangible assets as of December 31, 2019 and September 30, 2020 are summarized as follows:
|  | As of December 31, |  |  | As of September 30, |
|  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |  |  | US$ (Note 2.5) |
Cost |  |  |  |  |  |  |  |  |  |  |  |
IPR&D |  |  | 148,844 |  |  |  | 122,000 |  |  |  | 17,969 |
Less: accumulated amortization |  |  | — |  |  |  | — |  |  |  | — |
Net book value |  |  | 148,844 |  |  |  | 122,000 |  |  |  | 17,969 |
IPR&D represents the fair value assigned to research and development assets that the Group acquired from business combination of I-Mab Tianjin and its subsidiaries including Chengdu Tasgen Bio-Tech Co., Ltd. and Shanghai Tianyunjian Bio-Tech Co., Ltd. (together the “Tasgen Group”) in 2017 and had not reached technological feasibility at the date of acquisition. Upon commercialization, the Group will determine the estimated useful life and amortize these amounts based upon an economic consumption method. The fair value assigned to the IPR&D related to TJ102 was RMB26,844 (US$3,954). On September 15, 2020, I-Mab Hong Kong and Genexine, Inc. entered into amendments to Intellectual Property License Agreement with I-Mab Hangzhou to assign and transfer all the rights and obligations related to TJ102 to I-Mab Hangzhou, pursuant to an equity transfer and investment agreement entered into between I-Mab Hong Kong and various parties (Note 7). As of December 31, 2019 and September 30, 2020, there was no impairment of the value of the Group’s intangible assets.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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