30 September 2020 | News
Pfizer to invest $200 million in CStone shares and license CStone’s late-stage oncology asset sugemalimab (CS1001, PD-L1 antibody) in mainland China
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CStone Pharmaceuticals, headquartered in China and Pfizer Investment Co. Ltd. and Pfizer Corporation Hong Kong Limited (both of which are subsidiaries of Pfizer Inc.) have announced the formation of a strategic collaboration that encompasses a $200 million equity investment by Pfizer Hong Kong in CStone, collaboration between CStone and Pfizer Investment for the development and commercialization of CStone’s sugemalimab (CS1001, PD-L1 antibody) in mainland China, and a framework between CStone and Pfizer Investment to bring additional oncology assets to the Greater China market.
This collaboration provides financing to support CStone’s development of sugemalimab, a potential best-in-class PD-L1 antibody that is being developed for high-incidence cancer indications in China, including lung, gastric and esophageal cancers, among others.
Pfizer will in-license and exclusively lead commercialization of sugemalimab in China, harnessing its industry-leading capabilities to help doctors and patients across a far wider range of regions gain greater access to this treatment.
The collaboration positions CStone and Pfizer to develop and commercialize additional oncology assets for the Greater China market.