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On October 12, Keystone Pharmaceuticals announced that the equity subscription agreement signed with its subsidiary had been completed and that Pfizer had subscribed for a new issue of Cornerstone Pharmaceuticals at a total price of approximately HK$200 million per share, or about 9.9% of Keystone Pharmaceuticals' total share capital issued after the rights issue.
move marks the effective of the two sides' multi-faceted strategic cooperation.
September 30, 2020, the two sides announced the establishment of a strategic partnership under which, in addition to the $200 million equity investment in Keystone Pharmaceuticals by Pfizer, Keystone Pharmaceuticals and Pfizer invested in the development and commercialization of Sugley Monodrug (CS1001, PD-L1 Antibodies) in Chinese mainland, and Keystone Pharmaceuticals and Pfizer invested in the introduction of more tumor products into the Greater China framework.
Foundation Pharmaceuticals was established at the end of 2015 and the product pipeline contains 15 tumor candidates, five of which are in critical clinical trials or registration stages.
among them, Shugli monoanti is the core product of the cornerstone pharmaceutical industry, but also the domestic research and development progress of the domestic PD-L1 single anti, adaptive diseases include non-small cell lung cancer, stomach cancer, liver cancer and esophageal cancer and other high incidence of cancer in China.
the product is not yet on the market, but it has completed the combined platinum-containing chemotherapy for phase IV non-small cell lung cancer first-line treatment of Phase III clinical trials, there is no similar drug approved for the adaptation certificate.
, Shugli monoanti has completed a phase I clinical trial dose climb in China.
in phase IA and IB studies, Shugli monoantigen resistance showed good anti-tumor activity and tolerance in multiple tumor species.
also at the 2020 Annual Meeting of the Chinese Association of Clinical Oncology, Keystone Pharmaceuticals announced a report on the recurrence or refragment of natural killer cells/T-cell lymphomas (CS1001-201) of Shuglidan anti-monodrug therapy Study) and Shugli single anti-combination chemotherapy to treat stomach adenocarcinoma or gastroesophageal junction adenocarcinoma (CS1001-101 1b queue) data show that Shugli monotherapy and combination chemotherapy have shown good safety and tolerance.
For Keystone Pharmaceuticals, the company said the equity subscription is part of the strategic cooperation framework between Keystone Pharmaceuticals and Pfizer, which will advance Keystone Pharmaceuticals' strategic, commercial and financial goals, and that the completion of the equity subscription will allow both parties to continue to advance a series of initiatives within the framework.
For Pfizer, PD-1/PD-L1 inhibitors have been a hot research topic for cancer drugs in recent years, and their products are characterized by the need for a large business team and market coverage, so external cooperation is the appropriate way.
this cooperation will help the company officially enter china's PD-L1 market competition.
also means that the domestic PD-L1 market competition or more intense.
As far as Shugli monoantitor is concerned, although it has no competitors in the field of combined platinum-containing chemotherapy IV. phase non-small cell lung cancer adaptation, there are already 8 tumor immunosuppressants on the market in China, including 4 domestic PD-1s (Hengrui Pharmaceutical Karelli single resistance, Baiji Shenzhou for Reilly pearl monoanti, Junshi Biot Ripley monoanti and Cynda biosindili monoanti), 2 imported PD-1 (100-time Meschguibonavuliu monoanti, Mercado Paboli pearl monoanti) and 2 imported PD-L1 (AstraZeneca Valliyu monoanti, Roche Atili single resistance).
analysis, for Pfizer, it is facing the pressure of policies such as collection, health care and so on.
In the present, Xinta Bio's Xindili monoanti has been included in the health insurance list, and with the exception of Roche's Atiliju monoanti, the rest of the single resistance has been included in the 2020 national health care negotiations, so the commercialization of Shugli single resistance road remains under pressure.