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 »
UNDERWRITERS AND PARTNERS
Author: Frank Vinluan
Date : 2020-09-30T16:43:39.000Z