Pfizer Pumps $200M Into CStone for Rights to PD-L1 Cancer Drug in China

CStone Pharmaceuticals has touted its experimental drug sugemalimab as potentially the best in its class of cancer immunotherapies. Pfizer is placing a bet on that promise by making a $200 million equity investment in CStone for rights to that drug in China.

According to deal terms announced late Tuesday, Pfizer (NYSE: PFE) is purchasing nearly 116 million shares of CStone, equivalent to a 9.9 percent stake. The New York-based pharmaceutical giant gains exclusive commercialization rights to suegamalimab in mainland China, but CStone remains responsible for clinical and regulatory development of the compound for five types of cancer. Shanghai-based CStone keeps... Read more »


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Author: Frank Vinluan

Source : https://xconomy.com/new-york/2020/09/30/pfizer-pumps-200m-into-cstone-for-rights-to-pd-l1-cancer-drug-in-china/


Date : 2020-09-30T16:43:39.000Z

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