Mundipharma International Corporation Limited, Mundipharma Medical Company, and Acrotech Biopharma Inc. Enter Agreement to Transfer License of FOLOTYN® (Pralatrexate) in China to CASI Pharmaceuticals
August 11, 2023 at 1:15:44 AM
CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, today announced the execution of an Assignment Agreement (the "Agreement") with Mundipharma International Corporation Limited ("MICL"), Mundipharma Medical Company ("MMCo"), and Acrotech Biopharma Inc. ("Acrotech") for the commercialization of FOLOTYN® (Pralatrexate) in the People's Republic of China ("China").
FOLOTYN® (Pralatrexate) is a dihydrofolate reductase inhibitor indicated for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma ("PTCL"). This product was approved by both the US Food and Drug Administration ("FDA") and China's National Medical Products Administration (NMPA) for PTCL. Under the terms of the Agreement, CASI will assume MICL's rights and obligations with respect to the commercialization of FOLOTYN® in China.
Wei-Wu He, Ph.D., CASI's Chairman and Chief Executive Officer, commented, "We are very pleased to add FOLOTYN®, another unique and approved drug product to our commercial portfolio. The licensing of FOLOTYN® is consistent with the company's strategy to grow our hematological malignancy therapeutic area franchise. We will leverage CASI's existing sales and commercial team's established capabilities and infrastructure to launch and commercialize FOLOTYN®."
"CASI has proven and strong capability to commercialize proprietary medications and are extremely pleased to broaden our existing relationship with them. We look forward to this exciting launch and bringing this novel medicine to PTCL patients in China," said Dr. Ashish Anvekar, President of Acrotech Biopharma.
Mundipharma is a global healthcare company with a presence across Africa, Asia Pacific, Canada, Europe, Latin America, and the Middle East. Mundipharma is dedicated to bringing innovative treatments to patients in the areas of Pain Management, Infectious Disease and Consumer Healthcare as well as other severe and debilitating disease areas. Our guiding principles, centered around Integrity and Patient-Centricity, are at the heart of everything we do. For more information visit www.mundipharma.com.
About Acrotech Biopharma Inc.
Acrotech Biopharma Inc. was formed as a global platform to commercialize innovative proprietary medications. The company aims to launch scientifically advanced products to address unmet needs and deliver value to patients as well as all healthcare stakeholders. Acrotech aspires to be a patient focused, research based organization that strives to launch treatments which are accessible to patients that need them. To learn more about Acrotech Biopharma, visit https://acrotechbiopharma.com.
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. More information on CASI is available at www.casipharmaceuticals.com.
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