CASI Divests 12% Stake in Juventas, its CAR-T Partner, for $34 Million

CASI Pharma, a Maryland-Beijing biopharma, sold its 12% stake in its partner, Tianjin Juventas Biotech, for $34 million. CASI and Juventas will continue to share commercialization rights to Juventas’ lead candidate, CNCT19, a CAR-T candidate that targets CD19 for B-cell lymphomas and leukemias. In 2019, CASI acquired global rights to CNCT19 and a 20% stake in Juventas for $11.6 million. Since then, CASI agreed to split commercialization with Juventas rather than make a required payment to the company. Over the past year, CASI's market cap has dropped by 80%, and it has only $25 million in cash. More details....

Stock Symbol: (NSDQ: CASI)

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