CASI Pharmaceuticals Announces Partner Juventas Completion Of Series C Financing Of $63 Million For Acceleration Of CNCT19 Pivotal Trials And Commercialization
CASI Pharmaceuticals, Inc., a US biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, reported that Juventas Cell Therapy Ltd. has completed a Series C financing round through which it raised more than RMB410 million (approximately $63 million (USD). Juventas states that the funds will be used to pursue a new drug application in China and launch implementation of a commercialization and international research and development plan for CNCT19.
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CASI shares global co-commercial and profit-sharing rights with Juventas and indirectly owns a 12.0098% equity stake in Juventas on a fully diluted basis following completion of the Series C financing round. The Juventas’ financing was led by CICC Capital.
Dr. Wei-Wu He, CEO and Chairman of CASI comments: “CASI, through its commercialization of Evomela in China, has built a robust commercial team in the hematology-oncology market. Juventas is a leading cell therapy innovator in China. The collaboration between CASI and Juventas will speed up the adoption of CAR-T therapy in China, helping thousands of patients in need of this breakthrough therapy.”
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