Feb 7 (Reuters) - I-Mab said on Wednesday that it has agreed to divest its operations and assets in China, as part of its strategy to become a U.S.-focused biotech firm.

The company said it will transfer the ownership of its China unit, I-Mab Shanghai, to its affiliate Hangzhou Company for a total consideration of upto $80 million. (Reporting by Bhanvi Satija in Bengaluru; Editing by Varun H K)