- invoX Pharma, a wholly-owned subsidiary of Sino Biopharmaceutical Limited, has agreed to acquire F-star Therapeutics Inc (NASDAQ:FSTX) for $7.12 per share.
- The proposed acquisition values F-star at approximately $161 million.
- Just a year ago, F-star priced its IPO at $7.
- F-star's next-generation tetravalent (2+2) bispecific antibody platform complements Sino Biopharma's existing capabilities and reinforces its global oncology pipeline.
- Four programs are progressing in the clinic, three based on F-star's tetravalent platform and one next-generation STING agonist, with multiple further undisclosed programs in development.
- Leveraging its modular antibody technology, F-star has forged collaborations with major international biopharma companies across a wide range of therapeutic areas, including oncology, immunology, and neurology.
- Related: F-star Shares Rise On Bispecific Antibody Therapeutics Pact With Janssen.
- The invoX and F-star Board of Directors have unanimously approved the transaction. It is expected to close in 2H of 2022.
- invoX, established in 2021 in the U.K., is Sino Biopharma's international expansion platform, focusing on R&D and business development activities outside of China, with a core focus on oncology and respiratory therapeutics.
- Price Action: FSTX shares are up 67.1% at $6.65 during the premarket session on the last check Thursday.
