CASI in-licenses rights to anti-CD19 T-cell therapy

CASI Pharmaceuticals (NASDAQ:CASI) has signed a license agreement for exclusive worldwide rights to an anti-CD19 T-cell therapy product (CNCT19) from Juventas Cell Therapy Ltd., a China-based domestic company.

Juventas will continue to develop CNCT19 with CASI’s participation on the program’s steering committee. CASI will make certain milestone payments and sales royalties.

In connection with the license, CASI will invest RMB 80M (~$11.6M) in Juventas through a wholly owned Chinese subsidiary in lieu of the upfront payment for the license.

Shares are up 5% premarket.

https://seekingalpha.com/news/3471658-casi-licenses-rights-anti-cd19-t-cell-therapy-shares-5-percent-premarket