UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 7.01. Regulation FD Disclosure.
As previously reported, CASI Pharmaceuticals, Inc. (the “Company”) has an exclusive worldwide license and commercialization rights to an autologous anti-CD 19 T-cell therapy product (“CNCT19”) from Juventas Cell Therapy Ltd. (“Juventas”). The Company’s CEO and Chairman is a director and one of the founding shareholders of Juventas. On August 14, 2020, CASI Biopharmaceuticals (WUXI) Co., Ltd., an indirect subsidiary of the Company (“CASI Biopharmaceuticals”), entered into a loan agreement with Juventas. Pursuant to the terms of the loan agreement, CASI Biopharmaceuticals will lend Juventas up to RMB 40 million (approximately USD $5.79 million) to support the continued development of CNCT19. The loan has a term of 365 days and bears interest at the rate of 20% per annum. A committee of independent directors of the Company evaluated the terms of the loan agreement and approved the transaction.
The information in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information in this Item 7.01 of this Current Report on Form 8-K shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CASI PHARMACEUTICALS, INC. | |
| /s/ Cynthia W. Hu | |
| Cynthia W. Hu | |
| Chief Operating Officer, General Counsel & Secretary |
Date: August 19, 2020