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SHANGHAI, Aug. 15, 2019 /PRNewswire/ -- CStone Pharmaceuticals ("CStone"; HKEX: 2616), a leading biopharmaceutical company focused on developing and commercializing innovative immuno-oncology therapies and molecularly-targeted drugs for the treatment of cancer, today released its recent business highlights and financial results for the first half of 2019.
"In the first half of 2019, our team continued to make significant progress across all functions," said Dr. Frank Jiang, Chairman and Chief Executive Officer of CStone. "On February 26, 2019, we successfully listed on the Main Board of Hong Kong Stock Exchange, which marked a significant milestone in the development of our company. We continue to build strategic partnerships, including a global collaboration with Bayer Healthcare LLC ("Bayer") to explore the potential of our lead product PD-L1 monoclonal antibody CS1001 in combination with regorafenib in multiple cancer types, and a licensing deal with Numab Therapeutics AG ("Numab") for a potential best-in-class next-generation backbone molecule. We advanced CS1001 in multiple indications in 5 registrational trials with more than 650 patients dosed. We advanced all our in-licensed products from Agios Pharmaceuticals and Blueprint Medicines, including ivosidenib, avapritinib, fisogatinib (CS3008) and pralsetinib (CS3009) into the stage of clinics for registration or potential registration. As a first step towards commercialization, we submitted a new drug application for ivosidenib in Taiwan in May 2019.
"Looking forward, we will present key data for our PD-L1 (CS1001) monoclonal antibody in esophageal cancer, gastric cancer, cholangiocarcinoma, microsatellite instable high and NKTL and Phase I clinical data for PD-1 (CS1003) and CTLA-4 (CS1002) monoclonal antibodies at upcoming Chinese Society of Clinical Oncology ("CSCO"), European Society for Medical Oncology and The American Society of Hematology in the second half of 2019. We will continue to advance multiple assets, including our PD-L1 and PD-1 monoclonal antibodies into new combination trials and registrational studies for large indications. With the continuous build-out in commercial, R&D and manufacturing capabilities, 2019 will be a transformational year for CStone and lay the foundation for the company to become a globally recognized leading Chinese biopharmaceutical company that will bring innovative therapies to cancer patients in China and globally."
Non-International Financial Reporting Standard ("IFRS") Measures:
We have made significant progress with respect to our product pipeline and business operation in the first half of 2019:
CStone is a biopharmaceutical company focused on developing and commercializing innovative immune-oncology and molecularly-targeted drugs to address unmet medical needs for cancer patients in China and worldwide. Since the Company's inception in 2015, CStone has assembled a world-class management team that has a full spectrum of complementary skillsets from preclinical research to clinical development and commercialization. With combination therapies as a core strategy, the Company has built a rich oncology pipeline of 15 oncology drug candidates. Currently five late-stage drug candidates are at or near pivotal trials. With an experienced team, a rich pipeline, a robust clinical development-driven business model, and substantial funding, CStone's vision is to become globally recognized as a leading Chinese biopharmaceutical company by bringing innovative and differentiated oncology therapies to cancer patients worldwide.
For more information about CStone, please visit: www.cstonepharma.com.
The forward-looking statements made in this article relate only to the events or information as of the date on which the statements are made in this article. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect. In this article, statements of, or references to, our intentions or those of any of our Directors or our Company are made as of the date of this article. Any of these intentions may alter in light of future development.
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