invoX Pharma Ltd, a UK-based subsidiary of China’s Sino Biopharmaceutical Ltd (HKG: 1177), announced that its tender offer for all outstanding shares of UK bispecific antibody specialist F-star Therapeutics Inc. (Nasdaq: FSTX) has been extended. The existing offer of USD7.12 per share remains unchanged, representing a total deal value of approximately USD161 million. The offer is now open until September 19, 2022, providing additional time for the completion of regulatory formalities.
F-star Therapeutics Background
F-star is a clinical-stage biopharmaceutical company developing next-generation bispecific immunotherapies through its proprietary discovery platform. Its lead drug candidate, FS118, is a checkpoint inhibitor targeting PD-L1 and LAG-3. FS118 is currently in a Phase II clinical study for PD-1-resistant head and neck cancer and is also being studied in PD-1-naïve non-small cell lung cancer (NSCLC) and diffuse large B-cell lymphoma (DLBCL). Other pipeline candidates include FS222, a CD137 (4-1BB) agonist and PD-L1 inhibitor, and FS120, which targets OX40 and CD137 (4-1BB).
invoX Pharma Overview
invoX Pharma was established in March 2021 by Sino Biopharm and is headquartered in the United Kingdom. It serves as the international expansion platform for its Chinese parent company, operating independently while remaining a wholly-owned subsidiary. The company focuses on R & D and business development activities outside of China, with a particular emphasis on oncology and respiratory therapeutics.-Fineline Info & Tech
