CASI Pharma: Rises on deal with BioInvent to develop, market cancer drug
27/10/2020 15:34
** Drugmaker's shares CASI.O rise 13.6% to 3-month high of
$2.05
** CASI signs deal with Sweden-based drug developer
BioInvent International AB BINV.ST to develop BINV's cancer
antibody BI-1206 and market it in Greater China region
urn:newsml:reuters.com:*:nPn4nMPfma
** Under terms of agreement, BINV and CASI will develop
BI-1206 in both liquid and solid cancers
** CASI responsible for commercialization in China and
associated markets - cos
** BioInvent will receive a $5 mln upfront payment and is
eligible to receive up to $83 mln in milestone payments plus
tiered royalties on net sales of BI-1206
** BI-1206 is BioInvent's lead drug candidate being tested
for the treatment of solid tumors and Non-Hodgkin's lymphoma in
combination with other drugs
** More than 1.14 bln CASI shares traded, 5x their 25-day
moving avg
** Up to Monday's close, stock down 41.8% YTD
(Reporting by Amruta Khandekar)
((Amruta.Khandekar@thomsonreuters.com;))