Pfizer to acquire a 9.9% stake in CStone for $200m.

Pfizer, an American multinational pharmaceutical corporation, agreed to acquire a 9.9% stake in CStone Pharmaceuticals, a biopharmaceutical company focused on developing and commercializing innovative immuno-oncology and precision medicine, for $200m. “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. By joining forces with Pfizer and leveraging its commercialization 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,” Frank Jiang, CStone Chairman and Chief Executive Officer.