PR86341

NEW YORK, Oct. 29, 2020 /PRNewswire=KYODO JBN/ --

M.S.Q. Ventures ("MSQ") announced today that its client, BioInvent

International, AB ("BioInvent"), has successfully entered into a licensing

agreement with CASI Pharmaceuticals, Inc. ("CASI") for the development and

commercialization of BI-1206 in the Greater China region. BI-1206 is

BioInvent's proprietary clinical stage anti-FcãRllB antibody developed to treat

a variety of cancers including Non-Hodgkin's lymphoma and advanced solid tumors.

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Martin Welschof, Ph.D., CEO of BioInvent, stated, "The agreement is a further

validation of BioInvent's robust discovery platform and innovative clinical

program, where we welcome new opportunities to develop therapeutics for

patients in additional regions, as we did here for Greater China in partnership

with CASI." Dr. Welschof said, "MSQ team has been working seamlessly as our

external team focused on developing and executing China strategy and diligently

helped us identify, evaluate and advise on current and future strategic opportunities

to continue to expand BioInvent's capability to deliver for cancer patients in the region.

We appreciated MSQ's help so that we can complete this transaction smoothly and

expediently in mostly virtual fashion during this challenging time."

Wei-Wu He, Ph.D., Chairman and CEO of CASI, said, "Our goal at CASI is to

pursue innovative drugs to complement our core pipeline and therapeutic areas.

BI-1206's potential to be used in combination with leading immunotherapy agents

fits very well with our strategic thinking and is what attracted us to this

opportunity. We are impressed with BioInvent team's accomplishments to date and

we look forward to greater success together."

"BioInvent's lead asset BI-1206 is complementary to CASI's pipeline. The two

teams have a good cultural fit which is important for global clinical

development and commercialization of BI-1206. Clinical development in China

will accelerate BI-1206's overall global development timeline, creating

significant value," said Echo Hindle-Yang, CEO of MSQ. "We congratulate Martin,

Wei-Wu and the team of BioInvent and CASI on this remarkable achievement."

About MSQ

MSQ Ventures is a New York-based cross-border advisory firm that bridges the

healthcare industries globally by offering our deep knowledge, strong network,

and local insights into the China market. From understanding key segments of

the China healthcare market to identifying and vetting the high potential

counterparties to negotiating deals aimed at maximizing value creation, our

team focuses on results, prioritizes efficiency to guide our clients through

the entire process.

SOURCE: MSQ Ventures

CONTACT: Echo Hindle-Yang, CEO, MSQ, hindleyang@msqventures.com