AZN - F-star Therapeutics rises on agreement with AstraZeneca for STING inhibitors

metamorworks/iStock via Getty Images F-star Therapeutics (FSTX) has added ~14.3% in the pre-market after announcing a licensing agreement with AstraZeneca (AZN) for next-generation Stimulator of Interferon Genes ((STING)) inhibitor compounds. Per the terms, Anglo-Swedish drugmaker will be granted exclusive access to F-star’s preclinical STING inhibitors with global rights to research, develop and market STING inhibitors. F-star will retain rights to STING agonists currently undergoing clinical studies for cancer. The deal allows F-star to receive up to $12M in upfront and near-term payments in addition to over $300M in milestone payments and single-digit percentage in royalty payments. “STING inhibitors offer enormous potential for new treatments, as STING is known to play a role in activating the innate immune system across a range of inflammatory and autoimmune diseases,” noted Neil Brewis, chief scientific officer of F-star. The payments received by the company are subject to a contingent value rights agreement under which a portion will be

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F-star Therapeutics rises on agreement with AstraZeneca for STING inhibitors