F-star Therapeutics has been acquired by invoX Pharma Limited for $161million.
The Babraham Research Campus company, which is pioneering bispecific antibodies for immunotherapy treatments, is engaged in Phase II cancer trials in Europe and the US, which the deal will provide funding to continue.
The deal - equivalent to $7.12 per share - has been cleared by the regulatory agency in charge of enforcing the UK’s National Security and Investment Act and the Committee on Foreign Investment in the United States. F-star also has a US base in Cambridge, Massachusetts.
Ben Toogood, CEO of invoX, said: “The closing of the transaction significantly strengthens invoX’s pharmaceutical business, accelerating the build of a pipeline with a core focus on oncology and respiratory therapeutics. Most importantly, it provides the capital to ensure patients enrolled in F-star’s clinical studies will continue to have access to potentially life-saving therapies.
“‘We are pleased to have reached agreement with regulators in the US following substantial and thorough discussion. This clearance is a clear signal that governments recognize the importance of collaboration among trusted parties to advance patient-centered innovations in biotechnology.
‘We believe this will lay a solid foundation and understanding for our steps into the future and leaves us well positioned to continue to grow worldwide through further investment opportunities. We are also excited to welcome F-star employees and look forward to working with them as we invest in the company to progress and grow its clinical pipeline to realize the full potential of the platform.”
F-star’s Phase II trials involve patients with PD-1 acquired resistant head and neck cancer, and checkpoint inhibitor-naïve patients with non-small cell lung cancer (NSCLC) and diffuse large B-cell lymphoma (DLBCL). It also has further earlier clinical studies under way here and in the US.
UK-baesd inVox Pharma, which was incorporated in March 2021, is a wholly-owned subsidiary of Sino Biopharm, a global top 40 pharmaceutical company with more than 24,000 employees that is headquartered in Hong Kong.
invoX is a fully integrated biopharmaceutical company focused on R&D and business development activities outside of China. Its core focus is on oncology and respiratory therapeutics.
Published on: 16.03.23Article sourced from www.cambridgeindependent.co.uk