After a drawn-out acquisition that closed in 2023, U.K. biotech F-star Therapeutics is charting its own path as a private, independent company.
The antibody-focused biotech is breaking free from invoX Pharma, a U.K.-based subsidiary of Sino Biopharmaceutical, as announced in a LinkedIn post by F-star.
“We are pleased to announce that F-star Therapeutics has entered a new chapter in our history and become a private, independent company, fully owned and operated by the existing management team,” the post reads.
The biotech will continue to use its bispecific platform to discover next-gen therapeutics, the company said in the post. No further details were shared.
In March 2023, invoX wrapped up the acquisition of Nasdaq-listed F-star for an aggregate cash consideration of $161 million.
The Sino subsidiary initially extended an offer in mid-2022, but involvement from the Committee on Foreign Investment in the United States delayed the deal from closing until the next year.
Fierce Biotech has reached out to invoX for comment on the split.
As for F-star, the company is no stranger to M&A. In 2020, the biotech merged with Spring Bank Pharmaceuticals, giving F-star its former Nasdaq listing.
The biotech has also previously entered partnerships with several pharmas, including Takeda, Johnson & Johnson, and Merck KGaA.
As of publication, F-star has wiped its website of any information regarding an internal pipeline.