Added NEWS (IND Submission & Non Binding Acquisition Proposal for $40M)
CASI Pharmaceuticals Announces Plan To Submit IND Application For CID-103, an Anti-CD 38 Antibody in Antibody-Mediated Rejection, and Receipt of a Non-Binding Proposal to Acquire Entire China Business of the Company
CASI Pharmaceuticals plans to submit an Investigational New Drug (IND) application to the FDA by the end of 2024 for CID-103, a monoclonal antibody for treating antibody-mediated rejection (AMR) in kidney transplant recipients. CID-103 has shown promising preclinical efficacy and safety. The company believes it has enough capital to complete a Phase II clinical trial for AMR, using proceeds from a private placement financing and existing funds.
Additionally, CASI received a non-binding proposal to acquire its entire China business for $40 million, which includes the assumption of up to $20 million in debt. The Board has formed a Special Committee to evaluate this proposal and other strategic alternatives. No final decisions have been made, and there is no assurance the transaction will proceed.
Additionally, CASI received a non-binding proposal to acquire its entire China business for $40 million, which includes the assumption of up to $20 million in debt. The Board has formed a Special Committee to evaluate this proposal and other strategic alternatives. No final decisions have been made, and there is no assurance the transaction will proceed.
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