BOVNF - CASI and BioInvent enter into an exclusive license agreement for BI-1206

BioInvent International ([[BOVNF]]) and CASI Pharmaceuticals ([[CASI]] +3.6%) have entered into an exclusive licensing agreement for the development and commercialization of novel anti-Fc?RIIB antibody, BI-1206, in mainland China, Taiwan, Hong Kong and Macau.BioInvent will receive $12M upfront in combination of cash and equity investment and eligible to receive up to $83M in milestone payments, plus tiered royalties.CASI will also make a $7M investment in ~29.4M new shares in BioInvent at a subscription price of SEK 2.09/share and ~14.7M new warrants at a subscription price of SEK 3.14/share.The collaboration will accelerate and expand BioInvent's global development plans for BI-1206.

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CASI and BioInvent enter into an exclusive license agreement for BI-1206