CASI Pharmaceuticals, Inc.
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CASI Pharmaceuticals, Inc. - overview
Established
1991
Location
Rockville, MD, US
Primary Industry
Pharmaceuticals
About
CASI Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing innovative therapies aimed at improving outcomes for organ transplant recipients and patients with autoimmune diseases. Founded in 1991 and headquartered in Rockville, US, CASI Pharmaceuticals specializes in the development of therapies for organ transplantation and autoimmune conditions. The company has undergone strategic pivots in its research focus, particularly towards CID-103, its leading product candidate.
The most recent funding round was a PIPE on June 26, 2024, where CASI Pharmaceuticals raised USD 15. 00 mn from investors including Foresite Capital and Venrock, bringing the total amount raised to USD 15. 00 mn through six different funding deals. CASI Pharmaceuticals primarily focuses on CID-103, an investigational anti-CD38 monoclonal antibody designed to address antibody-mediated rejection (AMR) in organ transplant recipients and treat autoimmune diseases.
CID-103 targets specific B cell populations implicated in antibody generation against transplanted organs, offering a solution to the limitations of existing therapies targeting CD19 and CD20. The company serves a diverse client base, including healthcare providers and organizations involved in organ transplantation, particularly in the US market. In 2023, CASI Pharmaceuticals reported a revenue of USD 33. 88 mn, with an EBITDA of USD -21.
34 mn. The company's revenue model is centered on advancing CID-103 through clinical trials and potential commercialization, engaging in partnerships with research institutions and hospitals. CASI Pharmaceuticals plans to utilize the recent funding of USD 15. 00 mn to further develop CID-103 and expand its clinical trials.
The company aims to introduce new products targeting organ transplantation and autoimmune diseases within the next few years. Additionally, CASI is looking to expand its market presence beyond the US, with targeted efforts in global healthcare markets by the end of 2025. The capital raised will support these initiatives, facilitating the advancement of their pipeline and enhancing their operational capabilities.
Current Investors
Bristol-Myers Squibb Company, Emerging Technology Partners, IDG Capital
Primary Industry
Pharmaceuticals
Sub Industries
Oncology/Cancer Treatment, Pharmaceutical Research & Development
Website
www.casipharmaceuticals.com
Verticals
Manufacturing
Company Stage
Mature - Growth Capital
Total Amount Raised
Subscriber access only
CASI Pharmaceuticals, Inc. - timeline of key events
CASI Pharmaceuticals, Inc. - financials
| Fiscal Year Ended | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 1,940,887 | 669,310 | - | 23,727 | 47,712 | - | - | - | 4,131,000 | 15,141,000 | 30,168,000 | 43,107,000 | - | - | - |
| % Revenue Growth (YoY) | - | (65.5%) | (100.0%) | - | 101.1% | (100.0%) | - | - | - | 266.5% | 99.2% | 42.9% | - | - | - |
| EBITDA (USD) | (4,520,379) | (24,565,991) | (5,719,314) | (26,180,710) | (7,219,575) | (9,413,127) | (10,651,414) | (25,760,646) | (44,805,000) | (49,567,000) | (40,022,000) | (31,610,000) | - | - | - |
| Operating Income (USD) | (4,558,495) | (24,586,448) | (5,736,703) | (26,228,889) | (7,287,956) | (9,479,578) | (10,769,193) | (27,431,580) | (46,958,000) | (51,526,000) | (41,837,000) | (34,032,000) | - | - | - |
| Operating Margin | (234.9%) | (3673.4%) | - | (110544.5%) | (15274.9%) | - | - | - | (1136.7%) | (340.3%) | (138.7%) | (78.9%) | - | - | - |
| % EBITDA Margin | (232.9%) | (3670.3%) | - | (110341.4%) | (15131.6%) | - | - | - | (1084.6%) | (327.4%) | (132.7%) | (73.3%) | - | - | - |
| NET Income (USD) | (4,558,495) | (14,545,224) | (5,738,361) | (26,202,308) | (7,206,423) | (9,453,488) | (10,770,202) | (27,471,568) | (45,362,000) | (47,511,000) | (35,842,000) | (40,257,000) | - | - | - |
| % Net Margin | (234.9%) | (2173.2%) | - | (110432.5%) | (15104.0%) | - | - | - | (1098.1%) | (313.8%) | (118.8%) | (93.4%) | - | - | - |
CASI Pharmaceuticals, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PIPE | Completed | CASI Pharmaceuticals, Inc. | - | ||||||||
| PIPE | Completed | CASI Pharmaceuticals, Inc. | - | ||||||||
| PIPE | Completed | CASI Pharmaceuticals, Inc. | - | ||||||||
| PIPE | Completed | CASI Pharmaceuticals, Inc. | - | ||||||||
| LP Direct, PIPE | Completed | CASI Pharmaceuticals, Inc. | - |
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CASI Pharmaceuticals, Inc. - employee data
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