CStone and Pfizer collaborate to address cancer needs in China

News of a collaborations with US pharma giant Pfizer (NYE: PFE) sent the shares of Hong Kong-listed biotech CStone Pharmaceutical (HKEX: 2616) up as much as 39.6% to HK$12.98, the highest since early October last year.

The strategic collaboration 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.