CASI Pharmaceuticals Inc. (NASDAQ: CASI) has announced that its partners, Juventas Cell Therapy Ltd., has finalized a Series C funding round and raised approximately RMB410 million ($63 Million).
Juventas to use funds to pursue NDA for CNCT19
Juventas plans to use the funds to pursue a new drug application in China and unveil the implementation of a marketing and international R&D plan for CNCT19. CASI shares international co-marketing and profit-sharing rights with Juventas and owns 12.00098% interest in Juventas on a diluted basis after completion of this Series C funding round. CICC Capital led the Juventas financing round.
CASU CEO and Chairman Dr. Wei-WU He commented, “CASI, through its commercialization of Evomela in China, has built a robust commercial team in the hematology-oncology market. In addition, 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.”
CNCT19 developed for hematological malignancies
CNCT19 is a B-cell surface protein that is widely present during all stages of B-cell development and has been shown to be a legitimate target for B-cell-driven hematological malignancies. For example, in adolescents and adults with relapsed B-cell acute lymphoblastic leukemia (B-ALL), B-cell non-Hodgkin lymphoma (B-NHL), and chronic lymphocytic leukemia (CLL), CD19-targeted CAR constructs from numerous research institutions have consistently exhibited strong antitumor effectiveness. Thus, in CAR-T cell therapy clinical trials for hematological malignancies like leukemia and lymphoma, the CD19 antigen is the most commonly employed target.
Juventas is in charge of CNCT19’s development. CNCT19 will be co-commercialized by CASI and Juventas under the guidance of the program’s joint steering committee. CNT19 was initially developed at the Chinese Academy of Medical Sciences’ Institute of Hematology for the treatment of relapsed non-Hodgkin lymphoma and acute lymphoblastic leukemia. Besides CNCT19, the company has other products that include Pre-IND CD19.CD20 CART for non-Hodgkin lymphoma.
