Pfizer has formed a strategic collaboration with CStone Pharmaceuticals to address oncological needs in China.
As part of the collaboration, Pfizer Hong Kong will make a $200 million equity investment in CStone.
The 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.
The collaboration positions CStone and Pfizer to develop and commercialize additional oncology assets for the Greater China market.
Pfizer’s investment in CStone is a statement of its confidence in the potential of our anti-PD-L1 treatment and recognition of our research and development capabilities,” said Frank Jiang, Chairman and CEO of CStone.
“By joining forces with Pfizer and leveraging its commercialisation infrastructure, we will ensure that patients across a vastly expanded number of markets in China have quicker access to our highly differentiated PD-L1 treatment.
In addition, we have advanced our transformation into a full-fledged biopharmaceutical company by forging a collaboration that will enable us to accelerate development and commercialization of globally innovative therapies for Chinese patients.”
Pierre Gaudreault, Acting President of Pfizer Biopharmaceuticals Group China, said: “This collaboration with CStone builds on that history by helping to develop a potential best-in-class PD-L1 treatment that we can commercialize upon approval.
“It also fosters our collaboration with a partner that has exceptional clinical development capabilities that can help us meet the clear need for novel oncology treatments in China.”