Chinese Immuno-Oncology Company to Raise $282 Million Via Hong Kong IPO

February 18, 2019

CStone Pharmaceuticals is seeking to raise $282 Million in its upcoming Hong Kong IPO. The company's investors include Boyu Capital, Sequoia Capital, Oriza Holdings, and GIC.

The company raised $262 million in series B financing in 2018. Over 25% of the company's shares will be held by the public upon completion of the IPO.

Cstone has 13 candidates in development and one drug (Tibsovo for acute myeloid leukemia) approved in the US. Its focus is on developing immuno-oncology drugs.

The company has said that it intends to use the proceeds to fund the development of its core candidate and other clinical-stage therapies.


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