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CASI Acquires China Rights to a p97 Inhibitor for Cancer in $85 Million Deal

publication date: Mar 8, 2021

CASI Pharma, a Maryland-Beijing in-licensing company, acquired greater China rights to a cancer drug developed by Cleave Therapeutics in an $85 million agreement. CB-5339 is a novel valosin-containing protein that inhibits p97. CASI and Cleave will develop CB-5339 in hematological malignancies and solid tumors. CASI will make a $5.5 million upfront payment and invest another $5.5 million in Cleave. It will also make up to $74 million in milestone payments, plus pay royalties. More details....

Stock Symbol: (NSDQ: CASI)

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