CStone Pharmaceuticals Announces Completion of $200 Million Equity Investment by Pfizer

SUZHOU, China, Oct. 12, 2020 /PRNewswire/ -- CStone Pharmaceuticals (HKEX stock code: 2616) announced today that the share subscription agreement signed with a subsidiary of Pfizer Inc. (NYSE stock code: PFE) has been completed, with Pfizer successfully subscribing for newly issued shares of CStone Pharmaceuticals at a total consideration of approximately US$200 million (approximately HK$1.55 billion). This move also marks the formal effectiveness of the multi-faceted strategic collaboration between the two parties announced on September 30, 2020.

Pfizer’s subscription for 115,928,803 shares of CStone Pharmaceuticals at approximately HK$13.37 per share has been approved for listing by the Listing Committee of The Stock Exchange of Hong Kong Limited. The shares acquired by Pfizer represent approximately 9.9% of CStone Pharmaceuticals’ total issued share capital following the share placement.

The equity subscription is part of the strategic cooperation framework between CStone Pharmaceuticals and Pfizer, which will help CStone Pharmaceuticals achieve its strategic, commercialization, and financial goals, further transforming it into a fully capable biopharmaceutical company. The completion of the equity subscription also allows both parties to continue advancing a series of initiatives within the cooperation framework:

About CStone Pharmaceuticals

CStone Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of innovative immuno-oncology and precision medicine therapies to address the urgent medical needs of cancer patients in China and worldwide. Established in late 2015, CStone Pharmaceuticals has assembled a world-class management team with extensive experience in new drug research and development, clinical studies, and commercialization. Centered on combination immuno-oncology therapies, the company has built a robust pipeline of 15 oncology drug candidates, five of which are in late-stage development and currently undergoing pivotal clinical trials or registration processes. Leveraging its experienced management team, diverse pipeline, business model focused on clinical development, and strong financial position, CStone Pharmaceuticals aims to become a globally recognized, leading Chinese biopharmaceutical company by delivering innovative oncology treatments to cancer patients worldwide. For more information about CStone Pharmaceuticals, please visit:www.cstonepharma.com。

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