CASI Pharmaceuticals Wins Emergency Relief Regarding the Dispute with Juventas Cell Therapy Ltd Prohibiting Juventas from Commercializing CNCT19

Author: Benzinga Newsdesk | April 08, 2024 07:34am

On April 8, 2024, CASI Pharmaceuticals, Inc., a Cayman Islands incorporated company  (“CASI” or the “Company”) announced that, with respect to the Company’s previously announced dispute with Juventas Cell Therapy Ltd. (“Juventas”), an emergency arbitrator appointed by the Hong Kong International Arbitration Centre (the “HKIAC”) issued an Order on April 5, 2024, granting the emergency injunctive relief CASI sought pending the determination of the arbitration proceeding initiated with the HKIAC in connection with the dispute (the “Arbitration Proceeding”). The emergency arbitrator’s Order, among other things, prohibits Juventas from commercializing CNCT19 by itself or through another third party.  The emergency arbitrator also noted in the Order that the parties shall cooperate to reach a temporary arrangement that allows them to provide CNCT19 to new patients.

The Company intends to vigorously assert and enforce its rights in the Arbitration Proceeding and through all other available legal means, and negotiate with Juventas in good faith the temporary arrangement for new patients’ access to CNCT19 treatment during the Arbitration Proceeding as the emergency arbitrator ordered. The Company cannot predict right now the final outcome of the Arbitration Proceeding or how the parties’ dispute would ultimately be resolved.

Posted In: CASI