Pfizer to buy 9.9% of CStone for $200 million, eyes collaboration

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CStone said the deal would allow it to focus on product development and strengthen its ability to commercialise CS1001 – an anti-PD-L1 monoclonal antibody.

Pfizer Corporation had agreed to buy 115.93 million new shares of China-based CStone at HK$13.37 apiece, representing 43.8% premium over the closing price of HK$9.30 on Tuesday.

CStone, which focuses on immuno-oncology medicines, said it had granted a Pfizer unit an exclusive licence to commercialise CS1001 in China.