Amount: $260 million
Round: Series B
Investors: 3W Partners, 6 Dimensions Capital, ARCH Venture Partners, AVICT, Boyu Capital, CITIC PE, GIC Private Limited (Singapore’s sovereign wealth fund), Hillhouse Capital, King Star Capital, Oriza Seed Venture Capital, Sequoia China, Taikang Insurance Group, Terra Magnum Capital Partners, WuXi Healthcare Ventures, Yunfeng Capital
At the time, the company named five areas of interest: oncology, cardiovascular diseases, rheumatoid arthritis, hematology and autoimmune diseases, with a special focus on immuno-oncology. Since its launch, CStone has worked on a pipeline of more than a dozen candidates, including treatments targeting PD-L1, IDH1 and CTLA-4.
In 2018, the Suzhou, China-based biotech raised another $260 million in its B round, which will advance its clinical-stage assets, including lead program CS1001, an anti-PD-L1 antibody. The proceeds were also tapped for expanding CStone’s pipeline both organically, through in-house R&D, as well as via partnerships.
And in February, the biotech picked up another HK$2.1 billion ($266 million) when it went public on the Hong Kong Stock Exchange, which relaxed its rules for early-stage, prerevenue biotechs in 2018.