Monday 27 June 2022

London-based invoX Pharma, focussed on research and development and business development activities outside of China, has agreed to acquire all issued and outstanding shares of common stock of UK-based biopharmaceutical company F-star Therapeutics, Inc. (NASDAQ: FSTX) in a transaction that values F-star at approximately USD 161m, the company said.

invoX Pharma is a wholly owned subsidiary of Sino Biopharmaceutical Ltd. (HKEX 1177 HK).

The proposed USD 161m all-cash acquisition will accelerate invoX's strategy to build Sino Biopharm's International Biopharmaceutical R and D Platform outside of China.

The proposed acquisition values F-star at approximately USD 161m. The transaction is expected to close in the second half of 2022.

F-star Therapeutics, Inc. is pioneering bispecifics in immunotherapy with a proprietary platform technology pioneers the use of tetravalent bispecific antibodies that enable the simultaneous targeting of two different antigens and a unique set of pharmacology to deliver focussed, potent and safe immune activation in the tumor microenvironment.

invoX is Sino Biopharm's international expansion platform, focusing on R and D and business development activities outside of China, with a core focus on oncology and respiratory therapeutics.

F-star will form a key element of invoX's strategy to accelerate Sino Biopharm's development of innovative medicines, complementing its existing R and D platforms and pipeline.

PJT Partners is acting as financial advisor to invoX, and Morgan Stanley and Co. LLC is acting as financial advisor to F-star. Shearman and Sterling LLP is serving as legal counsel to invoX and Sino Biopharm and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is serving as legal counsel to F-star.