CStone closes $260mm Series B round; largest in Chinese biopharm history

Immuno-oncology firm CStone Pharmaceuticals Co. Ltd. raised $260mm through its Series B round, the largest funding of its kind in Chinese biopharma history. GIC Private Ltd. led and was joined by new investors 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, as well as returning backers Oriza Seed Venture Capital, Boyu Capital, and WuXi Healthcare Ventures. Funds will support continued development of lead candidate CS1001, an anti-PD-L1 mAb in Phase I/II for advanced cancers.