Casi Pharmaceuticals (CASI)

[Rocky I]

CASI Pharmaceuticals Enters Exclusive China Distribution License Agreement For Octreotide Long Acting Injectable (LAI) Microsphere For Neuroendocrine Cancers And Acromegaly
ROCKVILLE, Md. and BEIJING, Nov. 7, 2019 - CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, announces an exclusive distribution agreement with Pharmathen Global BV for the development and distribution of octreotide long acting injectable (LAI) microsphere in China. Octreotide LAI formulations are considered a standard of care for the treatment of acromegaly and for the control of symptoms associated with certain neuroendocrine tumors. Pharmathen has received regulatory approvals in various European countries. CASI will be responsible for the development, import drug registration and product approval in China and has a long-term exclusive distribution right for the China market after product launch.

Wei-Wu He, Ph.D., CASI's Chairman and Chief Executive Officer stated, "Octreotide LAI is an asset that we feel enhances and adds value to our growing portfolio of oncology products. Based on historical data, we are confident in the sales projections for octreotide LAI in China as this market has experienced continued growth over the last several years. We believe octreotide LAI will add significant value to patients with neuroendocrine tumors in China which are likely underreported and potentially mistreated. With improvements in diagnostic testing and clinical detection, the number of neuroendocrine tumors diagnosed and treated in China is expected to increase."

About Octreotide

Octreotide is a synthetic peptide which potently mimics the inhibitory activity of the natural hormone somatostatin. Octreotide LAI microsphere is a slow release formulation of octreotide which reduces the need for frequent physician visits and administration, while maintaining the clinical and pharmacological characteristics of the immediate-release formulation of octreotide.

US prescribing and indication details for Octreotide and Octreotide LAI can be found at https://www.fda.gov/