invoX Pharma to acquire F-star Therapeutics
invoX Pharma, a wholly-owned subsidiary of Sino Biopharmaceutical (HKEX: 1177) that is focused on research and development (R&D) and business development activities outside of China, today announced that it has entered into a definitive agreement to acquire all of the issued and outstanding shares of F-star Therapeutics’ (Nasdaq: FSTX) common stock for $7.12 per share.
The proposed acquisition values F-star, a UK and USA-based clinical-stage biopharmaceutical company, 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.
News of the M&A deal pushed F-star’s shares up a massive 69% to $3.98 in pre-market trading this morning.
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