CASI Pharmaceuticals
| Company type | Public |
|---|---|
| Industry | Pharmaceutical |
| Founded | 1991 |
| Founder | Peter C. Farrell, Bart Chernow, John Holaday |
| Headquarters | Rockville, Maryland , United States |
Key people | Wei-Wu He (Chairman and CEO) |
| Products | Endostatin (angiogenesis inhibitor), Evomela (injectable treatment for multiple myeloma) |
CASI Pharmaceuticals, previously known as EntreMed, is a pharmaceutical firm headquartered in the United States with a focus on oncology treatments. The company gained recognition for creating the angiogenesis inhibitor Endostatin. In 2014, it underwent rebranding to concentrate on therapies addressing myeloma, leukemia, and lymphoma. Wei-Wu He holds the positions of chairman and CEO.
History and description
Established in 1991 in Rockville, EntreMed was founded by Peter C. Farrell, Bart Chernow, and John Holaday, who served as CEO until 2002. Holaday passed away in 2019.
Endostatin
In 1998, The New York Times featured EntreMed's work on angiogenesis inhibitors such as Endostatin, designed to inhibit tumor blood vessel formation to suppress cancer growth while minimizing side effects. Early enthusiasm was driven by endorsements from Harvard scientist Dr. Judah Folkman and James D. Watson; however, clinical trial outcomes did not meet initial hopes. Following media attention, EntreMed's stock price jumped from $12 to $83 before declining due to concerns raised by the National Cancer Institute.
The company collaborated with Bristol-Myers Squibb to further develop the drug, but BMS ceased its research efforts in 1999. Despite these challenges, EntreMed persisted with development activities. In 2005, Chinese researchers introduced EndoStar, a modified version of Endostatin backed by investor Luo Yongzhang, which entered clinical trials in China. The medication remains under investigation awaiting additional trial results.
Renaming
In June 2014, following a shareholder vote, EntreMed adopted the name CASI Pharmaceuticals. Then-CEO Ken K. Ren explained that the new identity better reflected the company's mission to fight cancer through innovative science and represented its unified development approach spanning China and North America.
By August 2019, CASI Pharmaceuticals secured approval to distribute Evomela, an injectable treatment for multiple myeloma patients in China. This milestone marked the company's inaugural product launch into the commercial market since its inception in 1991.