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Precision Autoimmune Therapies Raises $21 Million to Develop Anti-CD38 Program

publication date: Jul 8, 2022

Precision Autoimmune Therapeutics, a Beijing newco focused on autoimmune and inflammatory conditions, completed a $21 million Angel round. Founded in January, the company’s lead program is an anti-CD38 monoclonal antibody. In May, PAT acquired global rights (ex-US) to the candidate for autoimmune conditions from CASI, a Maryland-Beijing company, while CASI retains rights for hematological and oncology indications. CASI contributed $3 million to the funding for a 15% stake in PAT, while PAT will pay $10 million in upfront payments for the in-licensing. More details...

Stock Symbol: (NSDQ; CASI)

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