BEIJING, July 8, 2024
/PRNewswire/ -- CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a Cayman
incorporated biopharmaceutical company focused on developing and
commercializing innovative therapeutics and pharmaceutical products
today announces appointment of Daniel
Lang, MD as Chief Financial Officer and Senior Vice
President, effective July
8th, 2024.
Dr. Lang has more than 30 years of experience as a physician
scientist, investor, and biotech executive. He is a cardiologist by
training from UCSF, followed by 20 years of investment
experience as a portfolio manager at Farallon Capital and Chief
Investment Officer at RS Investments Value Group. Most recently, he
was the President of Athenex cell therapy division and led
clinical development of the NKT cell platform.
"We are delighted to have Dan join us at this exciting time at
CASI. His unique combination of clinical, operational and capital
market experience will contribute to the strategic pivot of
anti-CD38 program to focus on antibody mediated rejection (AMR) and
Idiopathic thrombocytopenia purpura (ITP)," said Dr. Wei-Wu He, Chairman and CEO of CASI
Pharmaceuticals.
Dr. Lang commented "I am excited to join CASI to execute on the
Company's strategy in maximizing the value of its pipeline
products, especially CID-103 which has a great potential to address
unmet medical needs for autoimmune disease patients."
About CASI Pharmaceuticals
CASI Pharmaceuticals, Inc. is a biopharmaceutical company
focused on developing and commercializing innovative therapeutics
and pharmaceutical products in China, the United
States, and throughout the world. The Company is focused on
acquiring, developing, and commercializing products that augment
its hematology oncology therapeutic focus as well as other areas of
unmet medical need. The Company intends to execute its plan to
become a leader by launching medicines in the Greater China market, leveraging the Company's
China-based regulatory and
commercial competencies and its global drug development expertise.
The Company's operations in China
are conducted through its wholly owned subsidiary, CASI
Pharmaceuticals (China) Co., Ltd.,
located in Beijing,
China.
Forward-Looking Statements
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, the business outlook and quotations from management
in this announcement, as well as the Company's strategic and
operational plans, contain forward-looking statements. The Company
may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission
(the "SEC"), in in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about the
Company's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the risk
that we may be unable to continue as a going concern as a result of
our inability to raise sufficient capital for our operational
needs; the possibility that we may be delisted from trading on The
Nasdaq Capital Market if we fail to satisfy applicable continued
listing standards; the volatility in the market price of our
ordinary shares; the risk of substantial dilution of existing
shareholders in future share issuances; the difficulty of executing
our business strategy on a global basis including China; our inability to enter into strategic
partnerships for the development, commercialization, manufacturing
and distribution of our proposed product candidates or future
candidates; legal or regulatory developments in China that adversely affect our ability to
operate in China, our lack of
experience in manufacturing products and uncertainty about our
resources and capabilities to do so on a clinical or commercial
scale; risks relating to the commercialization, if any, of our
products and proposed products (such as marketing, safety,
regulatory, patent, product liability, supply, competition and
other risks); our inability to predict when or if our product
candidates will be approved for marketing by the FDA, European
Medicines Agency, PRC National Medical Products Administration, or
other regulatory authorities; our inability to enter into strategic
partnerships for the development, commercialization, manufacturing
and distribution of our proposed product candidates or future
candidates; the risks relating to the need for additional capital
and the uncertainty of securing additional funding on favorable
terms; the risks associated with our product candidates, and the
risks associated with our other early-stage products under
development; the risk that result in preclinical and clinical
models are not necessarily indicative of clinical results;
uncertainties relating to preclinical and clinical trials,
including delays to the commencement of such trials; our ability to
protect our intellectual property rights; the lack of success in
the clinical development of any of our products; and our dependence
on third parties; the risks related to our dependence on Juventas
to conduct the clinical development of and to partner with us to
co-market CNCT19; risks related to our dependence on Juventas to
ensure the patent protection and prosecution for CNCT19; risks
relating to the commercialization, if any, of our proposed products
(such as marketing, safety, regulatory, patent, product liability,
supply, competition and other risks); risks relating to interests
of our largest shareholder and our Chairman and CEO that differ
from our other shareholders; and risks related to the development
of a new manufacturing facility by CASI Pharmaceuticals (Wuxi) Co.,
Ltd. Further information regarding these and other risks is
included in the Company's filings with the SEC. All information
provided herein is as of the date of this announcement, and the
Company undertakes no obligation to update any forward-looking
statement, except as required under applicable law.
COMPANY CONTACT:
Rui Zhang
CASI Pharmaceuticals, Inc.
240.864.2643
ir@casipharmaceuticals.com
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SOURCE CASI Pharmaceuticals