Equity Transfer Agreement between CASI Biopharmaceuticals (Wuxi) Co., Ltd. and Shenzhen Jiadao Gongcheng Equity Investment Fund (Limited Partnership) dated September 22, 2022

凯信生物医药（无锡）有限公司，一家根据中国法律注册成立的有限责任公司，统一社会信用代码为91320206MA1Y9QKR89（”转让方”）；

深圳嘉道功程股权投资基金（有限合伙），一家根据中国法律注册成立的有限合伙企业，统一社会信用代码为91440300319612500C（”受让方”）。

截至签署日，转让方持有对应合源生物科技（天津）有限公司（”标的公司”）注册资本[*****] 的股权。根据标的公司与转让方及其他相关方于2021年10月13日签署的《关于合源生物科技（天津）有限公司之股东协议》（”股东协议”），转让方就前述股权享有作为A+轮投资者（定义见股东协议）的权利。

受让方拟按照本协议的条款与条件受让转让方持有的对应标的公司注册资本[*****] 的股权，转让方拟按照本协议的条款与条件转让其持有的该等标的公司股权。

标的公司与转让方的关联方（定义见下）CASI Pharmaceuticals, Inc.（”CASI US”）分别于2019年6月15日和2020年9月29日签署《Exclusive License Agreement》及《独家许可协议之补充协议》（合称”独家许可协议”）。本次股权转让（定义见下）完成后，转让方希望独家许可协议能够继续被严格履行。

转让方同意将其持有的截至签署日对应标的公司注册资本 [*****] 的股权（”目标股权”），按本协议的条款与条件以 [*****]（”股权转让价款”）的对价转让给受让方，受让方同意按本协议的条款与条件受让目标股权（”本次股权转让”）。

The Transferor agrees to transfer to the Transferee its equity interests in the amount of [*****] of the registered capital of the Company as of the Execution Date (the “Target Equity”) for a consideration of [*****] (the “Equity Transfer Price”), subject to the terms and conditions of this Agreement, and the Transferee agrees to accept the transfer of the Target Equity subject to the terms and conditions of this Agreement (this “Equity Transfer”).

受限于本协议的约定，双方同意配合与本次股权转让相关的一切程序（包括但不限于在市场监督管理部门就本次股权转让办理的必要程序）。

Subject to the provisions herein, the Parties agree to cooperate in all procedures in connection with the Equity Transfer (including, without limitation, the procedures necessary for the Equity Transfer with the market supervision and administration authority).

双方确认并同意，在本协议第四条规定的先决条件得以全部满足或受让方以书面形式予以豁免之日（”交割条件满足日”）后，受让方应分两期向转让方支付股权转让价款：

第一期：交割条件满足日起 [*****]内，受让方向转让方支付本次股权转让对价的[*****]，即[*****] （大写：壹亿贰仟零肆拾叁万陆仟柒佰伍拾元整）；

第二期：标的公司办理完毕标的股权的工商变更登记后[*****] 内，受让方向转让方支付本次股权转让对价的剩余[*****]，即[*****] （大写：壹亿贰仟零肆拾叁万陆仟柒佰伍拾元整）。

The Parties acknowledge and agree that the Transferee shall pay the Equity Transfer Price to the Transferor in two tranches after the date on which all conditions precedent set forth in Article IV hereof are satisfied or waived by the Transferee in writing (the “Closing Conditions Satisfaction Date”):

The 1^st Tranche: within [*****] after the Closing Conditions Satisfaction Date, the Transferee shall pay [*****] of the Equity Transfer Price, which is [*****];

The 2^nd Tranche: within [*****]  after the completion of the Equity Transfer Registration, the Transferee shall pay the remaining [*****] of the Equity Transfer Price, which is  [*****];

双方确认并同意，转让方应在收到受让方支付的每期股权转让价款后的[*****] 内向受让方出具书面的收款通知，以证明受让方已完成该期股权转让价款支付义务。

The Parties acknowledge and agree that the Transferor shall issue a written receipt notice to the Transferee within [*****]  after the receipt of each tranche of the Equity Transfer Price paid by the Transferee to evidence that the Transferee has fulfilled its obligation to pay such tranche of the Equity Transfer Price.

自首次付款日起，受让方取得全部目标股权，并获得目标股权的全部权利、权属和权益，包括但不限于目标股权的所有权和任何与之相关的或

From the First Payment Date, the Transferee shall acquire all the Target Equity, as well as all rights, titles and interests in, to and under the Target Equity, including without limitation the ownership of the Target Equity and any rights and interests relating to or arising from such ownership, and shall assume the obligations corresponding to the Target Equity.

特别地，双方一致同意并确认，自首次付款日，受让方就目标股权享有作为A+轮投资者根据股东协议（或股东协议后续不时修订或者修改）享有相应的股东的权利。

In particular, the Parties unanimously agree and confirm that, upon the First Payment Date, the Transferee shall be entitled to the relevant shareholders’ rights as a Series A + Investor with respect to the Target Equity in accordance with the Shareholders’ Agreement, as amended or modified from time to time subsequently.

转让方特此向受让方作出如下陈述与保证，并确认受让方对本协议的签署依赖于该等陈述与保证直至交割日（含交割日）在所有方面的真实、准确、完整和不具有误导性：

The Transferor hereby makes the following representations and warranties to the Transferee and acknowledges that the Transferee has entered into this Agreement in reliance on these representations and warranties being true, accurate, complete and not misleading in all respects as of the Closing Date (inclusive):

转让方系依照中国法律合法成立和有效存续的实体。

The Transferor is an entity duly organized and validly existing under the laws of China.

转让方根据适用法律具备民事权利能力和民事行为能力签署、交付和履行本协议项下与其相关事项；转让方已经就其签署、交付和履行本次股权转让项下与其相关事项取得所需的一切的授权、许可和批准。除本协议约定的各项变更手续（即在市场监督管理部门的变更登记/备案手续），转让方签署、交付和履行本协议并完成本次股权

The Transferor has the capacity for civil rights and conducts in accordance with applicable laws to execute, deliver and perform this Agreement. The Transferor has obtained all necessary authorizations, permits and approvals in connection with its execution, delivery and performance of the matters regarding the Transferor under the Equity Transfer. Except for the procedures for amendments as set forth in this Agreement (i.e. amendment registration/filing with the market supervision authority), the Transferor is not required to obtain any consent, authorization, permit or approval from any third party for the Transferor’s execution, delivery and performance of this Agreement or completion of the matters regarding the Equity Transfer. This Agreement will constitute a legal, valid and binding obligation of the Transferor, and will be enforceable against the Transferor in accordance with the provisions in the relevant transaction documents.

转让方签署、交付和履行本协议并完成本次股权转让，不会违反适用法律或任何政府指令，不会违反其章程或其他组织文件（如有），不会违反对其有约束力或适用的法院判决、裁定、仲裁庭裁决、行政决定、命令，不会违反转让方作为签约一方的任何文件、合同或协议，或对其或其资产具有约束力的任何文件、合同或协议，不会导致任何第三方向转让方提出任何权利请求。

The execution, delivery and performance of this Agreement and the completion of the Equity Transfer by the Transferor will not violate any applicable laws or any governmental orders, the articles of association or other organizational documents (if any), or any binding court judgments, rulings, arbitration tribunal awards, administrative decisions or orders binding upon or applicable to it, or any documents, contracts or agreements to which the Transferor is a party or any documents, contracts or agreements binding upon the Transferor or its assets, nor will it result in any third party to claim against the Transferor.

目标股权没有且不涉及任何国有资产，根据任何国有资产监管法律无需为完成本次股权转让而取得国有资产审批/备案手续、任何形式的国有资产评估程序，或进行任何国有资产产权交易所进场交易的相关程序。

The Target Equity does not involve any state-owned assets. Therefore, according to any law on the supervision and administration of state-owned assets, there is no need to obtain state-owned assets approval/filing procedures, any form of state-owned assets appraisal procedures, or relevant procedures to conduct any trading at any state-owned assets property exchange.

转让方是目标股权的合法持有人，其获得目标股权的对价均已经按时足额支付，且其持有的目标股权对应的注册资本已足额缴纳，转让方不存在迟延缴纳目标股权注册资本、虚假出资或抽逃出资的行为。转让方持有的目标股权上，不存在任何现有或潜在的争议、纠纷、诉讼、仲裁、索赔、强制执行或其他行政程序或法律程序。转让方持有的目标股权上不存在任何代持安排，亦不存在质押、抵押等担保权益或任何种类的权利负担，或任何其他第三方权利或权益。转让方对其持有的目标股权具有完全和排他的所有权和处分权，并具有依法转让其所持目标股权的权利。

The Transferor is the lawful holder of the Target Equity, and has fully paid the consideration for the Target Equity, and the registered capital corresponding to the Target Equity has been fully paid. The Transferor has not delayed payment of the registered capital for the Target Equity, committed false capital contribution or withdrawn capital contribution. There are no existing or potential disputes, disagreements, litigations, arbitrations, claims, enforcements or other administrative or legal proceedings in connection with the Target Equity. The Target Equity is not subject to any nominee holding arrangement, pledge, mortgage or other security interest or encumbrance of any kind, or any other third party right or interest. The Transferor has full and exclusive ownership and right to dispose of the Target Equity, and has the right to transfer the Equity Interest pursuant to law.

受让方特此向转让方作出如下陈述与保证，并确认转让方对本协议的签署依赖于该等陈述与保证直至交割日（含交割日）在所有方面的真实、准确、完整和不具有误导性：

The Transferee hereby makes the following representations and warranties to the Transferor and acknowledges that the Transferor has entered into this Agreement in reliance on these representations and warranties being true, accurate, complete

授权和有效性。受让方系依照中国法律合法成立和有效存续的实体。

Authority and Validity. The Transferee is an entity duly organized and validly existing under the laws of China.

受让方根据适用法律具备民事权利能力和民事行为能力签署、交付和履行本协议项下与其相关事项；受让方已经就其签署、交付和履行本次股权转让项下与其相关事项取得所需的一切的授权、许可和批准。除本协议约定的各项变更手续（即在市场监督管理部门的变更登记/备案手续），受让方签署、交付和履行本协议并完成本次股权转让项下与其相关事项无需获取任何第三方的同意、授权、许可或批准。本协议在经受让方签署后将构成对其合法、有效和具有约束力的义务，并可按照相应交易文件的条款对其强制执行。

The Transferee has the capacity for civil rights and conducts in accordance with applicable laws to execute, deliver and perform this Agreement. The Transferee has obtained all necessary authorizations, permits and approvals in connection with its execution, delivery and performance of the matters regarding the Transferee under the Equity Transfer. Except for the procedures for amendments as set forth in this Agreement (i.e. amendment registration/filing with the market supervision authority), the Transferee is not required to obtain any consent, authorization, permit or approval from any third party for the Transferee’s execution, delivery and performance of this Agreement or completion of the matters regarding the Equity Transfer. This Agreement will constitute a legal, valid and binding obligation of the Transferee, and will be enforceable against the Transferee in accordance with the provisions in the relevant transaction documents.

受让方签署、交付和履行本协议并完成本次股权转让，不会违反适用法律或任何政府指令，不会违反其章程或其他组织文件（如有），不会违反对其有约束力或适用的法院判决、裁定、仲裁庭裁决、行政决定、命令，不会违反受让方作为签约一方的任何文件、合同或协议，或对其或其资产具有约束力的任何文件、合同或协议，不会导致任何第三方向受让方提出任何权利请求。

The execution, delivery and performance of this Agreement and the completion of the Equity Transfer by the Transferee will not violate any applicable laws or any governmental orders, the articles of association or other organizational documents (if any), or any binding court judgments,

本次股权转让系受让方的真实意思表示，受让方确认其用以购买目标股权的资金来源合法、合规，受让方具备履行本协议项下支付义务所需的财务能力。

The Equity Transfer is the expression of its true intentions. The Transferee confirms that the source of funds used to purchase the Target Equity is legal and compliant, and the Transferee has the financial capacity as required by the payment obligations hereunder.

自签署日至交割日，除实施本协议项下的本次股权转让外，未经受让方事先书面同意，转让方不得转让、出售、质押或以其他任何方式处置目标股权，包括但不限于不得在其上设置任何权利负担；且转让方不得实施任何可能对目标股权或本协议或其他交易文件的履行有重大不利影响的行为；

From the Execution Date to the Closing Date, except for the Equity Transfer hereunder, without the prior written consent of the Transferee, Transferor shall not transfer, sell, pledge or otherwise dispose of the Target Equity, including without limitation not creating any encumbrance thereon; and the Transferor shall not take any action that may have any material adverse effect on the Target Equity or the performance of this Agreement or other Transaction Documents;

转让方应协助并配合标的公司及受让方就本次股权转让完成在市场监督管理部门的变更登记/备案手续，该等变更应体现本次股权转让安排以及相应的股东变更安排（”股权转让变更登记”）。转让方承诺，在其全额收到第一期股权转让价款（即[*****] ）的前提下，其应尽商业合理努力协助并配合标的公司及受让方使得股权转让变更登记手续在下述日期孰早之日前完成：（1）转让方全额收到第一期股权转让价款（即[*****] ）后第[*****] 届满之日；（2）2022年10月31日。转让方应在收到第一期股

The Transferor shall assist and cooperate with the Company and the Transferee in completing the amendment registration/filing procedures with the relevant market supervision and administration authority; such change shall reflect the arrangement for the Equity Transfer and the arrangement for change of shareholders (the “Amendment Registration of Equity Transfer”). The Transferor covenants and undertakes that, in the event that it has received the first tranche of the Equity Transfer Price (i.e. [*****]) in full,  it shall make commercially reasonable efforts to assist and cooperate with the Company and the Transferee to ensure the Amendment Registration of Equity Transfer to be completed prior to the earlier of (1) the expiration of the [*****] after the date on which the Transferor has received the first tranche of the Equity Transfer Price (i.e. [*****]) in full; or (2) October 31, 2022. The Transferor shall, within [*****] after receiving the first tranche of the Equity Transfer Price (i.e. [*****]  in full), provide the Company and the Transferee with the documents and materials required for the Amendment Registration of Equity Transfer.

[*****]

Agreement and duly execution by the Parties of this Agreement;

The Equity Transfer and the transfer of all rights, titles and interests in, to and under the Target Equity of the Equity Transfer (including the Target Equity shall be entitled to the relevant shareholders’ rights as a Series A + Investor with respect to the Target Equity in accordance with the Shareholders’ Agreement, as amended or modified from time to time subsequently) have been approved by the shareholders’ meeting of the Company;

转让方已经就其签署、交付和履行本次股权转让项下与其相关事项取得所需的一切的授权、许可和批准，包括但不限于转让方或关联方的股东会决议和/或董事会决议等。

The Transferor has obtained all necessary authorizations, permits and approvals in connection with its execution, delivery and performance of the matters regarding the Transferor under the Equity Transfer, including without limitation the shareholders resolutions and/or board resolutions of the Transferor or its Affiliates.

The representations and warranties of the Transferor under this Agreement remain true, complete, accurate and non-misleading as of the Execution Date to the Closing Date; the Transferor has not committed any act in violation of this Agreement;

As of the Closing Date, there are no actions or procedures restricting or prohibiting the Equity Transfer, and there are no outstanding permits, approvals or third party permits in connection with the Equity Transfer;

The Transferor’s issuance of a written payment notice to the Transferee reflecting the payment of the Equity Transfer Price to the bank account designated by the Transferor;

The Transferor’s issuance of a written closing notice to the Transferee undertaking the satisfaction of all the Conditions Precedent set forth in this Article IV.

另一方在本协议项下中所作的任何陈述或保证不真实、不准确、不完整或存在误导性；

Any of the representations or warranties made by the other Party under this Agreement is untrue, inaccurate, incomplete or misleading;

另一方违反本协议规定的应由该方履行的任何承诺或义务。

The other Party is in breach of any covenant or obligation to be performed by such Party pursuant to this Agreement.

合同解除的情形

Circumstances of Termination of the Contract

本协议双方共同以书面协议解除并确定解除生效时间；

The Parties shall terminate this Agreement and determine the effective date of such termination by mutual written agreement;

受让方超过本协议约定的付款日期延迟付款超过 [*****]，且经转让方催告后[*****] 仍未付款的；转让方有权发出书面通知单方解除本协议；

The Transferee is late for the payment described under this Agreement for more than [*****], and still fails to complete such payment within another  [*****] after being requested by the Transferor thereafter, the Transferor has the right, at its sole discretion, to terminate this Agreement by a written notice;

在受让方全额支付第一期股权转让价款（即 [*****]）的前提下，股权转让变更登记未在本协议第3.2.2条约定的期限内完成且延期超过  [*****] ，经受让方催告后 [*****] 仍未完成的；受让方有权发出书面通知单方解除本协议。

In the event that the Transferor has received the first tranche of the Equity Transfer Price (i.e. [*****]) in full), if the Amendment Registration of Equity Transfer has not been completed within  [*****]  after the respective period as set forth in this Section 3.2.2, and has not been completed within another  [*****] after being requested by the Transferee thereafter, the Transferee has the right, at its sole discretion, to terminate this Agreement by a written notice.

Effect of Termination of Contract

除非本协议另有约定，当本协议依上述之第6.1项任何一款解除后，本协议即无效力，但本协议第五条至第十条仍然有效。

Unless otherwise provided for in this Agreement, if this Agreement is terminated according to any of the provisions set forth in Section 6.1 above, this Agreement shall have no effect upon termination, except for Article V to Article X hereof.

本协议解除后，受让方无需支付任何股权转让价款，若受让方已支付股权转让价款的，转让方应自本协议解除之日起 [*****] 内向受让方返还已支付的股权转让价款；如本协议解除之前股权转让变更登记已完成，受让方应促使标的公司于本协议解除之日起[*****] 内在相关市场监督管理部门完成相应的变更登记/备案手续，且受让方应促使该等变更确保转让方恢复为目标股权的登记持有人并享有股东协议下转让方原享有的全部股东权利。除本协议另有约定外，本协议解除后，本协议双方应本着公平、合理、诚实信用的原则在 [*****] 内或者双方另行确认的其他期限内尽最大努力恢复本协议签订前的状态。

Upon termination of this Agreement, the Transferee is not required to pay any Equity Transfer Price. If the Transferee has already paid the Equity Transfer Price, the Transferor shall refund the paid Equity Transfer Price to the Transferee within [*****] after the termination of this Agreement; If the Amendment Registration of Equity Transfer is completed before the termination of this Agreement, the Transferee shall, within [*****] after the termination, cause the Company to complete the amendment registration/filing procedures with the relevant market supervision and administration authority, which shall reflect that the Transferor reverts to the duly registered holder of the Target Equity and is entitled to all of its shareholder rights and benefits under the Shareholders’ Agreement. Unless otherwise provided for in this Agreement, after the termination of this Agreement, the Parties shall, based on the principles of fairness, reasonableness, honesty and good faith, make their best efforts to resume the status before the execution of this Agreement within [*****] or other time limit as otherwise agreed by both Parties.

本协议解除后，除本协议另有约定外，双方在本协议项下的权利和义务即告终止，但本协议的解除不影响任何一方在本协议项下获得赔偿或补

Unless otherwise provided for in this Agreement, the rights and obligations of the Parties under this Agreement shall forthwith terminate upon the termination of this Agreement, provided that the termination of this Agreement shall not affect any Party’s rights to obtain indemnification or compensation under this Agreement.

若由于地震、台风、洪水、火灾、流行病、战争、暴乱、敌对行动、公众动乱、罢工以及其他任何无法预见并且是受影响方无法防止亦无法避免的不可抗力事件（统称为”不可抗力”），而直接或间接致使本协议任何一方不能履行或不能完全履行本协议时，则受上述不可抗力影响的一方不对此不履行或部分履行承担责任，前提是该受影响方须立即毫不迟延地按照本协议约定的通知方式向另一方发出书面通知，并须在发出该书面通知后[*****] 内向另一方提供不可抗力事件的详情，解释其此种不能履行、部分不能履行或需要迟延履行的原因。

In the case of earthquakes, typhoons, floods, fires, flu, wars, riots, hostilities, public disturbances, strikes or any other events of force majeure that cannot be predicted and are unpreventable and unavoidable by the affected Party (collectively referred to as “Force Majeure”), which directly or indirectly causes the failure of either Party to perform or completely perform this Agreement, then the Party affected by such Force Majeure shall not be held liable for such non-performance or partial performance, provided that the affected Party shall immediately and without delay give the other Party written notice in accordance with the methods set forth herein, and shall provide details of the event of Force Majeure to the other Party within [*****] after sending out such written notice, explaining the reasons for such failure of, partial or delay of performance.

若主张不可抗力的一方未能根据以上规定通知另一方并提供适当证明，其不得免于承担未能履行其在本协议项下义务的责任。受不可抗力影响的一方应作出合理的努力，以减低该不可抗力造成的后果，并在该不可抗力终止后尽快恢复履行所有有关义务。如受不可抗力影响的一方在因

If such Party claiming Force Majeure fails to notify the other Party and furnish it with proof pursuant to the above provision, such Party shall not be excused from non-performance of its obligations under this Agreement. The Party so affected by the event of Force Majeure shall use reasonable efforts to minimize the consequences of such Force Majeure and to promptly resume performance hereunder whenever the causes of such excuse are cured. Should the Party so affected by the event of Force Majeure fail to resume performance hereunder when the causes of such excuse are cured, such Party shall be liable to the other Party.

不可抗力发生时，双方应立即互相协商，以求达致公平解决方案，并须作出一切合理努力，尽量减低该不可抗力造成的后果。

In the event of Force Majeure, the Parties shall immediately consult with each other to find an equitable solution and shall use all reasonable endeavors to minimize the consequences of such Force Majeure.

本协议要求的或根据本协议做出的任何通知、请求、要求和其他通信往来应以书面形式送达有关方如附件一所示地址。

Any notice, request, demand and other correspondences required or given by this Agreement shall be made in writing and sent to the addresses of relevant Parties set forth in Appendix A.

该等通知或其他通信视为有效送达的日期按如下方式确定：(i) 面呈的通知在被通知人签收或拒收时视为送达；(ii) 可以邮寄方式进行的通知均应采用挂号快件或特快专递的方式进行，挂号快件应在投寄后第 [*****]  视为送达，特快专递应在被通知地址签收或拒收时视为送达；(iii) 经电子邮箱发送的通知自该邮件到达收件人邮箱系统之时视为已实际送达。

The dates on which such notices or other correspondences shall be deemed to have been effectively given shall be determined as follows: (i) notices delivered in person shall be deemed delivered upon receipt or refusal by the receiving Party; (ii) notices that may be sent by post shall be sent by registered mail or

若任何一方的上述通讯地址或通知方式发生变化（”变动方”），变动方应当在该变更发生后的 [*****] 内通知其他方。变动方未按约定及时通知的，变动方应承担由此造成的损失。

If either Party changes the above mailing address or contact information (the “Changing Party”), it shall notify the other Party within [*****] after the occurrence of such change. If the Changing Party fails to notify the other Party of the same in a timely manner, it shall bear the losses arising therefrom.

双方应就其签署本协议及其他交易文件的事实、本协议及其他交易文件的条款以及双方就签署和履行本协议及其他交易文件而交换的任何信息予以保密，不得向任何第三方披露前述信息。

The Parties shall maintain confidential the fact that the Parties have executed this Agreement and the other Transaction Documents, the terms hereof and thereof and any information exchanged by the Parties in connection with the execution and performance of this Agreement and the other Transaction Documents, and shall not disclose to any third party the aforementioned information.

上述限制不适用于：(i) 该信息在披露时已为公众所知悉；(ii) 为履行本协议项下交易之目的，一方向同意履行保密义务的其关联方、董事、股东、管理人员、员工、会计师、顾问、代表及代理人所披露；(iii) 一方按照对其有管辖权的政府部门的要求而披露，披露之前一方先以书面形式将披露的保密信息的确切性质通知其他方。如果可行，在作出上述披露前的合理时间内，披露方应与其他方就该披露进行协商，并就其他方合理要求尽可能对该披露寻求保密处理。

The above restrictions shall not apply to: (i) information which is already known to the public at the time of disclosure; (ii) information disclosed by a Party to its Affiliates, directors, shareholders, officers, employees, accountants, consultants,

不论本协议是否变更、解除或终止，本条均有法律效力。

This Article shall have legal effect irrespective of changes to, and rescission or termination of, this Agreement.

Effective Date

Governing Law

Dispute Resolution

Short Form Agreement

Entire Agreement

Waiver

Severability

Taxes and Fees

Assignment and Succession

Amendments and Supplements

Appendix

Affiliates

Language and Counterparts