Suzhou CStone Pharma raised $285 million in an Hong Kong IPO that valued the oncology company at $1.5 billion. The IPO was priced at the middle of the range, and the stock rose 7% in the first trading session. Just 2.5 years old, CStone has built a portfolio of 14 oncology drugs through novel drug discovery and in-licensings. The company’s three core products are IO candidates — PD-1, PD-L1 and CTLA-4 antibodies — which will be paired with other CStone assets as combination therapies.
Source: China Biotoday
