CStone up on deal with EQRx for two immune checkpoint Inhibitors

27 October 2020

Chinese biotech firm CStone Pharmaceuticals (HKEX: 2616) has signed an agreement to out-license ex-Greater China rights for two key late-stage immuno-oncology assets, sugemalimab (anti-PD-L1) and CS1003 (anti-PD-1), to EQRx, a recently-launched US biopharmaceutical company with an innovative business model that will allow these drugs to be competitively positioned in global markets against established treatments for the target indications.

News of the deal saw CStone’s shares close up 7.6% at HK$12.46

Last month, the company assigned rights to sugemalinab in China and Greater China to US pharma giant Pfizer (NYSE: PFE), under a strategic collaboration that included a $200 million equity investment by Pfizer Hong Kong in CStone.

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