11:42 AM EDT, 05/12/2025 (MT Newswires) -- CASI Pharmaceuticals ( CASI ) said Monday it has struck a deal to sell two subsidiaries in China to Kaixin Pharmaceuticals for $20.0 million, including assumption of up to $20.0 million debt.

Kaixin is owned by Wei-Wu He, chairman of the board and CEO of CASI, the company said. The deal includes all licensing rights, distribution rights, supply arrangements and other rights on BI-1206 in China, CID-103 in Asia excluding Japan and Thiotepa in China excluding Hong Kong, Macau and Taiwan.

CASI said it expects to retain the rights related to CID-103 in Japan and non-Asian regions, EVOMELA, FOLOTYN, CNCT19 and CB-5339, and to focus on CID-103 after the deal.

"This initiative aligns with its strategic pivot toward developing CID-103 for the treatment of organ transplant rejection and autoimmune diseases," CASI said.

Price: 1.91, Change: +0.02, Percent Change: +1.06