CASI receives updated buyout offer for China operations

7 April 2025

US-listed biotech CASI Pharmaceuticals (Nasdaq: CASI) has received a revised proposal from its chairman and chief executive Wei-Wu He to acquire its business in China along with certain regional rights to pipeline drugs for $20 million.

The proposed deal, outlined in a non-binding letter dated April 2, includes the assumption of $20 million in company debt. It covers CASI's operations in China and all license-in and distribution rights across Asia, excluding Japan, for three investigational drugs: BI-1206, CID-103 and thiotepa.

The new offer updates a previous proposal submitted by He in June 2024 and reflects changes to the scope and valuation of the company’s pipeline assets. CASI said the adjustments were made based on newly available information.

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