LegalJun 29, 2026, 06:36 AM
CASI Pharmaceuticals Settles Arbitration with Acrotech
AI Summary
CASI Pharmaceuticals, Inc. announced it has entered into a Settlement Agreement with Acrotech Biopharma Inc., resolving an arbitration proceeding. The dispute stemmed from Acrotech's purported termination of a license agreement that granted CASI exclusive rights to commercialize Evomela® in China. Under the settlement, the prior termination is rescinded, and the agreements will remain in full force and effect with certain revisions, including CASI's obligation to purchase minimum units of Evomela®.
Key Highlights
- CASI Pharmaceuticals settled an arbitration proceeding with Acrotech Biopharma Inc.
- The arbitration concerned Acrotech's purported termination of a 2014 license agreement.
- The license agreement granted CASI exclusive rights to commercialize Evomela® in China.
- The prior termination of the License Agreement and related agreements has been rescinded.
- Agreements are now in full force and effect, subject to certain revisions.
- Revisions include CASI's obligation to purchase a minimum number of Evomela® units.
- Both parties will seek dismissal with prejudice of the arbitration.
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