Brief: CASI Pharmaceuticals Got Notice From Juventas Cell Therapy To Terminate Exclusive License Agreement

CASI Pharmaceuticals

13/03/2024 20:42

March 13 (Reuters) - CASI Pharmaceuticals Inc  CASI.O :
    * CASI PHARMACEUTICALS -  ON MARCH 2 GOT NOTICE FROM
JUVENTAS CELL
THERAPY TO TERMINATE CERTAIN EXCLUSIVE LICENSE AGREEMENT, DATED
JUNE 15, 2019
    * CASI PHARMACEUTICALS-RESPONDED TO JUVENTAS'S PURPORTED
TERMINATION NOTICE, NOTING JUVENTAS WAS NOT ENTITLED TO
UNILATERALLY TERMINATE CNCT19 AGREEMENTS
    * CASI PHARMACEUTICALS INC - DEMANDING THAT JUVENTAS CEASE
ANY
CONDUCT THAT MAY CONSTITUTE FURTHER BREACH OF CNCT19 AGREEMENTS
    * CASI PHARMACEUTICALS INC - DEMANDING JUVENTAS EXECUTE A
WRITTEN
UNDERTAKING REGARDING COMPLIANCE WITH CNCT19 AGREEMENTS BY MARCH
13, 2024
    * CASI PHARMACEUTICALS INC - AS OF NOW, CO HAS NOT RECEIVED
ANY
RESPONSE FROM JUVENTAS CONCERNING CNCT19 AGREEMENTS OR ITS
PURPORTED TERMINATION NOTICE
    * CASI PHARMACEUTICALS INC - COMPANY CATEGORICALLY REJECTS
ANY
ALLEGED BASIS OF TERMINATION IN JUVENTAS'S TERMINATION NOTICE
    * CASI PHARMACEUTICALS - BELIEVES PURPORTED TERMINATION IS
INVALID, AND INTENDS TO "VIGOROUSLY" ASSERT AND ENFORCE ITS
RIGHTS UNDER CNCT 19 AGREEMENTS

Source text for Eikon:  ID:n0001962738-24-000009 
Further company coverage:  CASI.O 

 ((Reuters.Briefs@thomsonreuters.com;))