CStone Pharmaceuticals, a Suzhou, China-based biopharmaceutical company, completed a $260m (about RMB1.65 billion) Series B funding.
The round was led by GIC Private Limited, with participation from new investors including Sequoia China, Yunfeng Capital, 6 Dimensions Capital, CITIC PE, Taikang Insurance Group, ARCH Venture Partners, Hillhouse Capital, King Star Capital, 3W Partners, AVICT, and Terra Mafnum Capital Partners and existing investors Oriza Seed Venture Capital , Boyu Capital, and WuXi Healthcare Ventures (currently a 6 Dimensions Capital fund).
Founded in 2016 and led by Dr. Frank Jiang, Chief Executive Officer, CStone is a biopharmaceutical company focused on the development of innovative drugs and combination therapies in immuno-oncology. As of today, the company has built a portfolio of more than ten assets, including four in various clinical stages. In particular, CS1001, a human anti-PD-L1 monoclonal antibody, is completing Phase I dose escalation study and will soon enter registrational trials.
The company wil use the funds for clinical development of CS1001 and other clinical stage assets, expanding its pipeline through internal R&D and external partnerships, and recruiting talents.