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Casi Pharmaceuticals Acquires Global Intellectual Property Rights To Cleave Therapeutics' Vcp/P97 Inhibitor Cb-5339

PUBLIC · CASIFJul 20, 2023

Acquiring Company

CASI Pharmaceuticals

RockvilleManufacturingBiotechnologyHealth CareTherapeuticsPharmaceuticalBiopharma

Description

CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, today announced the execution of the Assignment Agreement (the "Agreement") with Cleave Therapeutics, Inc. ("Cleave"), pursuant to which CASI obtained all rights and global intellectual property rights related to CB-5339, a novel VCP/p97 inhibitor, as well as all remaining CB-5339 drug substance and drug product. Additionally, CASI will assume responsibility of the United States ("US") CB-5339 Investigational New Drug ("IND") application.

Company Information

Company

CASI Pharmaceuticals

Location

Medical Center Drive

Rockville, Maryland, United States

About

CASI Pharmaceuticals, Inc. is a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products in China, the United States, and throughout the world. The Company is focused on acquiring, developing, and commercializing products that augment its hematology oncology therapeutic focus as well as other areas of unmet medical need. The Company intends to execute its plan to become a leader by launching medicines in the Greater China market, leveraging the Company's China-based regulatory and commercial competencies and its global drug development expertise. The Company's operations in China are conducted through its wholly-owned subsidiary, CASI Pharmaceuticals (China) Co., Ltd., located in Beijing, China. The Company has built a commercial team of more than 100 hematology and oncology sales and marketing specialists based in China.

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