CASI - CASI Pharmaceuticals restructures Juventas Cell Therapy partnership

CASI Pharmaceuticals ([[CASI]] +2.3%) restructured its partnership with Juventas Cell Therapy relating to CNCT19, an investigational CD19 CAR-T Cell therapy.Post restructuring, Juventas can attract fresh capital to assist in upcoming trials and build out a GMP manufacturing facility for commercial production of CNCT19.Also, Casi is reducing its exposure to Juventas' future financial needs while ensuring that CNCT19 clinical development remains on track."We are also pleased to increase our equity position in Juventas which we believe will have significant upside potential for its shareholders in the China financial marketplace," president Larry Zhang commented.Under this transaction, Juventas will waive the RMB70M milestone payment due from CASI with regards the upcoming start of CNCT19 registration trials.CASI and Juventas will share a percentage of total net profits, with the former receiving a tiered percentage of up to 50% of the net profit from CNCT19 commercial sales; CASI will also be responsible for single digit royalty fee equal to

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CASI Pharmaceuticals restructures Juventas Cell Therapy partnership