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CASI Raises $32.5 Million for China In-Licensing Operations

publication date: Mar 26, 2021

CASI Pharma (NSDQ: CASI), a Maryland-Beijing company. raised $32.5 million in a private placement. CASI develops and commercializes novel in-licensed drugs in China. Earlier this month, CASI acquired greater China rights to a p97 inhibitor from San Francisco's Cleave Therapeutics in an $85 million agreement. The two companies will develop the candidate to treat hematological malignancies and solid tumors. CASI plans to use the proceeds from the placement for clinical trials, working capital and acquiring rights to additional products. More details....

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