Casi Pharmaceuticals licenses global rights to monoclonal antibody program
Casi Pharmaceuticals signed a license agreement for exclusive worldwide rights to the investigational anti-CD38 monoclonal antibody TSK011010 program from Black Belt Therapeutics. Under the terms of the agreement, CASI has obtained global rights to TSK011010 for an upfront payment of EUR5M and an equity investment of EUR2M, as well as certain milestone and royalty payments. The equity investment will be made in a newly established company of Black Belt Therapeutics focusing on novel immuno-oncology targets. CASI will be responsible for all development and commercialization activities of the TSK011010 program. TSK011010 is at the IND/IMPD submission stage of development, with Phase 1 trials expected to start in late 2019/early 2020. Preclinical data demonstrate TSK011010 to have enhanced activity against a broad array of malignancies which express CD38 and potentially better safety when compared to other CD38 Mabs.