SBHMY - Sino Biopharma to acquire F-star Therapeutics for $161M

• China's Sino Biopharmaceutical's ( OTCPK:SBHMY ) ( OTCPK:SBMFF ) unit invoX Pharma is acquiring F-star Therapeutics ( NASDAQ: FSTX ) in a $161M all-cash deal.
• U.K.-based invoX will begin a tender offer within 10 business days to acquire all the issued and outstanding common shares of F-star at $7.12/share.
• The acquisition aims to accelerate invoX’s strategy to build Sino Biopharm’s International Biopharmaceutical R&D platform outside of China, according to the company's June 23 press release.
• Sino said F-star's proprietary platform technology uses tetravalent (2+2) bispecific antibodies that enables the simultaneous targeting of two different antigens.
• "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," said  F-star CEO Eliot Forster.
• The deal has been approved by the boards of invoX and F-star.
• The transaction is expected to close in H2 2022, subject to conditions, including tender of more than 50% shares of F-star, and regulatory approvals, including and U.S. antitrust clearance.
• FSTX +1.76% $4.05 premarket June 23

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