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24 June, 2022 - 12:12 By Tony Quested

invoX pledges fresh F-star growth surge in Cambridge after $161m takeover

invoX Pharma, a subsidiary of Hong Kong’s Sino Biopharm, has pledged major investment in Cambridge operations following its $161 million cash acquisition of F-star Therapeutics.

invoX says it will not only be sustaining F-star’s Cambridge base at the Babraham Research Campus but also injecting fresh capital to upscale headcount and capability.

A spokesperson told Business Weekly: “Cambridge is a key innovation hub for the immuno-oncology scientific community and will be invoX's international centre of excellence in antibody research and clinical development. InvoX plans to retain and grow talent in Cambridge.”

As reported yesterday, F-star CEO Eliot Forster will leave the company within six months after the deal closes later this year.

Forster said: “This transaction enables greater and longer-term opportunities to develop the F-star platform and accelerate delivery of our novel medicines as we work together towards a future free from cancer and other serious diseases.”

F-star’s unique next-generation tetravalent (2+2) bispecific antibody platform complements Sino Biopharm’s existing capabilities and reinforces its global oncology pipeline.

Also as we reported previously, Ben Toogood – CEO of invoX – said the proposed acquisition was aligned with invoX’s strategy to become a fully integrated biopharmaceutical company with an advancing pipeline of innovative products addressing unmet healthcare needs, worldwide. 

“We are excited to welcome F-star employees and look forward to working with them as we invest in the company to progress and grow its clinical pipeline to realise the full potential of the platform,” he said.

• PHOTOGRAPH: Ben Toogood, CEO of invoX Pharma. Courtesy – invoX Pharma.

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