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Corvus Forms $106 Million China Subsidiary with China Rights to Four of its Assets

publication date: Oct 5, 2020

Corvus Pharma formed a China subsidiary, Angel Pharma, to develop its three clinical stage assets and one preclinical platform in China. Angel will have a post-money value of $106 million. Corus will own 49.7% of Angel, while three China biopharma investors will invest $41 million for the rest. The investors are Tigermed-Betta Pharma, Hisun Pharma and Zhejiang Puissance Capital. Angel will have China rights to three Corvus clinical-stage candidates – ciforadenant, CPI-006 and CPI-818 – and global rights to Corvus’ BTK inhibitor preclinical programs. More details....

Stock Symbol: (NSDQ: CRVS)

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