SCHEDULE: Panacea Venture Boosts Stake in CASI Pharmaceuticals to 22.5%

Panacea Venture Healthcare Fund II, L.P. and its affiliates, including James Huang, increased their beneficial ownership in CASI Pharmaceuticals, Inc. to 22.5% through recent share purchases and option grants.

Summary

• Panacea Venture Healthcare Fund II, L.P. acquired an additional 979,956 Ordinary Shares of CASI Pharmaceuticals, Inc. in a private transaction.
• The purchase was made on December 16, 2025, at a price of $0.80 per Ordinary Share, totaling approximately $0.8 million.
• James Huang, a director of CASI Pharmaceuticals, Inc. and Founding Managing Partner of Panacea Venture, received options to purchase an additional 10,000 Ordinary Shares.
• As of December 16, 2025, Panacea Venture Healthcare Fund II, L.P. beneficially owns 4,529,956 Ordinary Shares, representing 22.0% of the outstanding shares.
• James Huang beneficially owns a total of 4,651,527 Ordinary Shares, which includes the shares held by Panacea Venture and 121,571 currently exercisable options, representing 22.5% of the outstanding shares.
• The funds for the share purchase by Panacea Venture Healthcare Fund II, L.P. were sourced from capital contributions from its partners.
• The beneficial ownership calculation is based on 20,548,273 Ordinary Shares outstanding as of September 30, 2025.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. An increase in beneficial ownership by a venture fund and a director suggests confidence in the company's value and future prospects. While not a direct operational update, it reflects positive investor action.

Positives

• Increased institutional ownership by Panacea Venture, signaling confidence in CASI Pharmaceuticals, Inc.
• James Huang, a director, increasing his personal beneficial ownership through options and shared control, aligning his interests with shareholders.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding the company's future performance or strategic direction, beyond the reporting of beneficial ownership.

Industry Context

This filing indicates continued investment interest in CASI Pharmaceuticals, Inc. by a specialized healthcare venture fund. Such increased institutional ownership can be viewed positively within the biotechnology and pharmaceutical sectors, suggesting investor confidence in the company's long-term prospects or specific pipeline assets.

Related Party Transactions

• James Huang, a director of CASI Pharmaceuticals, Inc., is also the Founding Managing Partner of Panacea Venture Healthcare Fund II, L.P.'s general partner. Panacea Venture Healthcare Fund II, L.P. purchased 979,956 Ordinary Shares of CASI Pharmaceuticals, Inc.
• James Huang received options to purchase an additional 10,000 Ordinary Shares in connection with his service as a director of CASI Pharmaceuticals, Inc.

Stakeholder Impact

• Shareholders: Increased institutional ownership may lead to greater stability in the share price and potentially more active oversight or strategic input from a significant investor.
• Management: The increased stake by a director and associated fund could imply stronger alignment of interests and potentially more strategic guidance.

Key Dates

Keywords

CASI Pharmaceuticals, Panacea Venture, James Huang, Beneficial Ownership, Schedule 13D, Biotechnology Investment, Institutional Investor, Share Purchase