UK biotech F-star Therapeutics, Inc. (NASDAQ: FSTX) has announced that it has received clearance from the Committee on Foreign Investment in the United States (CFIUS) for the all-cash acquisition by invoX Pharma Limited, a UK-based subsidiary of China’s Sino Biopharmaceutical Ltd (HKG: 1177). This clearance is a significant step towards the completion of the acquisition, which was first proposed on June 30, 2022, at a valuation of USD 161 million.
Acquisition Details and Timeline
The offer, initially scheduled to expire on a specific date, has been extended multiple times due to the extended review process by CFIUS. With the recent clearance, the parties now expect to complete the merger promptly following the successful completion of the ongoing tender offer. The clearance from CFIUS ensures that the transaction complies with US foreign investment regulations, paving the way for the integration of F-star Therapeutics into the Sino Biopharmaceutical group.
F-star Therapeutics’ Pipeline
F-star Therapeutics boasts an attractive pipeline of bispecific antibodies (BsAbs), with FS118 leading the way. FS118, which targets PD-L1 and LAG-3, is currently in Phase II trials for head and neck cancer, non-small cell lung cancer (NSCLC), and diffuse large B cell lymphoma (DLBCL). The company’s pipeline also includes FS222, a CD137 (4-1BB) agonist and PD-L1 inhibitor, and FS120, which targets OX40 and CD137 (4-1BB). These innovative therapies represent F-star’s commitment to advancing the treatment of various cancers and immune-related disorders.-Fineline Info & Tech
