Ewopharma partners with CStone on sugemalimab

Privately-held Swiss drug firm Ewopharma it has entered into a strategic commercial collaboration with China’s CStone Pharmaceuticals (HKEX: 2616) to gain rights for sugemalimab in Switzerland and 18 Central Eastern European countries (CEE).

The partnership will maximize the value of sugemalimab (anti-PD-L1 monoclonal antibody), sold by CStone under the trade name Cejemly, in Central Eastern Europe and Switzerland.

In return, CStone - whose shares dipped 2.3% to HK$1.27 on the news - will receive up to $51.3 million in upfront payment and additional considerations payable upon the achievement of certain regulatory and sales milestones. CStone will book international revenues via the sale of supply to Ewopharma.