Shearman & Sterling advised invoX Pharma Limited (invoX), a wholly-owned subsidiary of Sino Biopharmaceutical Limited (Sino), on their acquisition of F-star Therapeutics, Inc. (F-star), for an aggregate cash consideration of approximately $161 million (or $7.12 per share).
All required regulatory approvals for closing of the transaction have been obtained, including clearance from 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 (CFIUS).
The transaction was announced on March 8 in a press release.
F-star is a clinical-stage biopharmaceutical company pioneering bispecifics in immunotherapy so more people with cancer can live longer and improved lives.
invoX is a wholly owned subsidiary of Sino, a global top 40 pharmaceutical company with more than 24,000 employees. UK-based invoX is a fully integrated biopharmaceutical company focusing on R&D and business development activities outside of China, with a core focus on oncology and respiratory therapeutics.
Sino, together with its subsidiaries, is a leading, innovative research and development driven pharmaceutical conglomerate in China, with a business scope that is vertically integrated including research and development, manufacturing and sales and marketing infrastructure.