To: technetium who wrote (139 ) 6/23/2022 11:30:20 AM From: Bladerunner17 Read Replies (1) | Respond to FSTX to be acquired.In this article: FSTX SBHMY SBMFF SRPT Proposed ~US$161 million all-cash acquisition to accelerate invoX’s strategy to build Sino Biopharm’s International Biopharmaceutical R&D Platform outside of China, transforming the lives of patients worldwide The transaction demonstrates the strength of F-star’s differentiated bispecific antibody technology and provides backing from a top 40 global pharmaceutical company to accelerate growth and unlock potential F-star’s unique next-generation tetravalent (2+2) bispecific antibody platform complements Sino Biopharm’s existing capabilities and reinforces its global oncology pipeline invoX Pharma (“invoX”) , a wholly owned subsidiary of Sino Biopharmaceutical Limited (“Sino Biopharm”) (HKEX 1177 HK) , focused on research and development (R&D) and business development activities outside of China, and F-star Therapeutics, Inc. (“F-star”) (NASDAQ:FSTX) , a clinical-stage biopharmaceutical company pioneering bispecifics in immunotherapy so more people with cancer can live longer and improved lives, today announced that the companies have entered into a definitive agreement whereby invoX will acquire all of the issued and outstanding shares of F-star common stock for $7.12 per share. The proposed acquisition values F-star at approximately $161 million. The transaction has been unanimously approved by the invoX and F-star Boards of Directors and is expected to close in the second half of 2022.Ben Toogood, Chief Executive Officer of invoX commented: “Today’s proposed acquisition is aligned with invoX’s strategy to become a fully integrated biopharmaceutical company with an advancing pipeline of innovative products addressing unmet healthcare needs, worldwide. We are 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.” Eliot Forster, Chief Executive Officer of F-star said: “We believe our tetravalent bispecifics offer the best approach to tackle hard-to-treat cancers and other serious diseases, with the ambition to deliver longer and improved lives for patients. Today’s announcement is good news for F-star, for our shareholders and, of course, for patients. This transaction enables greater and longer-term opportunities to develop the F-star platform and accelerate delivery of our novel medicines as we work together towards a future free from cancer and other serious diseases. I’d like to thank the fantastic team at F-star as well as our partners for all their hard work, support and dedication and I’m delighted to share this exciting development.” Transaction Terms
