Full Press Release Details
CASI Pharmaceuticals
Appoints James Huang to Board of Directors
South San Francisco, California / September 26,
2025 / ACCESS NEWSWIRE / -- CASI Pharmaceuticals, Inc. (NASDAQ: CASI), a clinical-stage biopharmaceutical company focused
on developing innovative therapies for patients with organ transplant rejection
and autoimmune diseases, today announced the appointment of James Huang as an Independent Director to the CASI Board of Directors,
effective as of October 1, 2025.
Mr. Huang brings over 35 years of experience building and investing
in biopharma companies globally. As Founder and Managing Partner of Panacea Venture, and previously Managing Partner at Kleiner Perkins
(KPCB) China and Vivo Ventures, he has guided numerous cross-border companies through critical stages of growth, financing, and global
expansion. Earlier in his career, he held senior roles in business development, sales & marketing, and research & development
at Tularik Inc. (acquired by Amgen), GlaxoSmithKline LLC, Bristol-Myers Squibb and ALZA Corp. (acquired by Johnson & Johnson).
Mr. Huang serves as a member of the board of directors of Kindstar Globalgene Technology, Inc., Connect Biopharma Holdings Limited,
Lee's Pharmaceutical Holdings Limited, Atara Biotherapeutics, Inc., and several private companies. He received an M.B.A. from
the Stanford Graduate School of Business and a B.S. degree in chemical engineering from the University of California, Berkeley.
"I am honored to join the CASI Board as the company embarks on
a pivotal new chapter with a sharpened U.S. focus and a commitment to rapidly advance clinical development of CID-103 in autoimmune diseases
and antibody-mediated rejection in solid organ transplants," said Mr. Huang. "I look forward to partnering with
company leadership to bring strategic perspective, principled governance, and long-term alignment with shareholders as CASI establishes
itself as a U.S.-centric clinical-stage leader in autoimmune and transplant medicine."
David Cory, CEO of CASI, added, "As our CID-103 anti-CD38 program
progresses in the clinic and delivers data across diverse patient populations and indications, we expect James' global perspective
and proven ability to scale companies will be invaluable. I am very pleased to welcome James to our Board and look forward to working
closely with him as we drive CASI toward its next phase of growth."
Panacea Venture is a current CASI Pharmaceuticals shareholder and,
in connection with Mr. Huang's appointment to the Board, plans to acquire up to approximately 1.5 million newly issued shares
of CASI Pharmaceuticals common stock from CASI in a registered transaction.
About CASI Pharmaceuticals
CASI Pharmaceuticals, Inc.
is a publicly-traded, biopharmaceutical company focused on developing CID-103, an anti-CD38 monoclonal antibody for organ transplant rejection
and autoimmune diseases.
fully human IgG1, potentially best-in-class, clinical stage, anti-CD38 monoclonal antibody which targets a unique epitope and has demonstrated
an encouraging pre-clinical efficacy and clinical safety profile compared to other anti-CD38 monoclonal antibodies, and for which CASI
owns exclusive global rights. CASI is actively recruiting and dosing patients in a Phase 1 / 2 study in immune thrombocytopenic purpura
(ITP). In parallel, CASI recently received FDA IND clearance to conduct a Phase 1/2 study in renal allograft antibody-mediated rejection
(AMR) with plans for first patient in Q1 2026.
May 2025 announcement that CASI had entered into an equity and asset transfer agreement with Kaixin Pharmaceuticals to divest CASI
China business, the company plans to complete divestiture in Q2 2026.
on CASI is available at www.casipharmaceuticals.com.
Forward Looking Statements
This announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar statements. Among
other things, the business outlook and quotations from management in this announcement, as well as the Company's strategic and operational
plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical
facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking
statement, including but not limited to the following: uncertainties related to the possibility that the transaction for the divestiture
of certain assets in China (the "Transaction") will not occur as planned if events arise that result in the termination of
the Equity and Assets Transfer Agreement, or if one or more of the various closing conditions to the Transaction are not satisfied or
waived; the possibility that our plan with respect to our business operations after the consummation of the Transaction can be implemented
successfully; our recurring operating losses have raised substantial doubt regarding our ability to continue as a going concern; the possibility
that we may be delisted from trading on The Nasdaq Capital Market if we fail to satisfy applicable continued listing standards; the volatility
in the market price of our ordinary shares; the risk of substantial dilution of existing shareholders in future share issuances; the difficulty
of executing our business strategy on a global basis including China; our inability to enter into strategic partnerships for the development,
commercialization, manufacturing and distribution of our proposed product candidates or future candidates; legal or regulatory developments
in China that adversely affect our ability to operate in China; our lack of experience in manufacturing products and uncertainty about
our resources and capabilities to do so on a clinical or commercial scale; risks relating to the commercialization, if any, of our products
and proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks); our inability
to predict when or if our product candidates will be approved for marketing by the U.S. Food and Drug Administration, European Medicines
Agency, PRC National Medical Products Administration, or other regulatory authorities; our inability to receive approval for renewal of
license of our existing products; the risks relating to the need for additional capital and the uncertainty of securing additional funding
on favorable terms; the risks associated with our product candidates, and the risks associated with our other early-stage products under
development; the risk that result in preclinical and clinical models are not necessarily indicative of clinical results; uncertainties
relating to preclinical and clinical trials, including delays to the commencement of such trials; our ability to protect our intellectual
property rights; the lack of success in the clinical development of any of our products; and our dependence on third parties; the risks
related to our dependence on Juventas to conduct the clinical development of CNCT19 and to partner with us to co-market CNCT19; risks
related to our dependence on Juventas to ensure the patent protection and prosecution for CNCT19; the risk related to the Company's ongoing
development of and regulatory application for CID-103 with respect to the treatment of antibody-mediated rejection for organ transplant
and the license arrangements of CID-103; risks relating to interests of our largest shareholder and our Chairman that differ from our
other shareholders; risks related to the development of a new manufacturing facility by CASI Pharmaceuticals (Wuxi) Co., Ltd. and
risks related to our disagreement with Acrotech with respect to the termination of agreements regarding EVOMELA . Further
information regarding these and other risks is included in the Company's filings with the SEC. All information provided herein is as of
the date of this announcement, and the Company undertakes no obligation to update any forward-looking statement, except as required under
applicable law. We caution readers not to place undue reliance on any forward-looking statements contained herein.
EVOMELA is proprietary to Acrotech Biopharma Inc. and
its affiliates. FOLOTYN is proprietary to Acrotech Biopharma Inc and its affiliates. The Company is currently involved
in disputes and legal proceedings related to certain pipeline products, including EVOMELA and CNCT-19. Please refer to
the Company's earlier SEC filing for further information.