CASI Pharmaceuticals Wins Emergency Relief Regarding the Dispute with Juventas Cell Therapy Ltd Prohibiting Juventas from Commercializing CNCT19
Portfolio Pulse from Benzinga Newsdesk
CASI Pharmaceuticals has been granted emergency injunctive relief by an emergency arbitrator from the Hong Kong International Arbitration Centre, prohibiting Juventas Cell Therapy Ltd. from commercializing CNCT19 pending the outcome of an arbitration proceeding. The order also mandates cooperation between the parties to ensure new patients can access CNCT19 treatment. CASI intends to vigorously assert its rights and negotiate a temporary arrangement for CNCT19 access during the arbitration.
April 08, 2024 | 11:34 am
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CASI Pharmaceuticals has obtained an emergency injunction against Juventas, preventing the commercialization of CNCT19 during arbitration. This legal victory could positively impact CASI's control over CNCT19's commercialization and patient access.
The emergency injunction represents a significant legal victory for CASI Pharmaceuticals, enhancing its position in the ongoing arbitration with Juventas. This development is likely to be viewed positively by investors, as it temporarily secures CASI's commercial rights to CNCT19 and demonstrates the company's ability to protect its interests through legal means. The focus on ensuring patient access to CNCT19 during the arbitration could also positively impact the company's public image and stakeholder relations.
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