F-star Therapeutics Announces Third Option Exercised by Merck KGaA, Darmstadt, Germany in Immuno-Oncology Collaboration

On April 1, 2021 F-star Therapeutics, Inc. (NASDAQ: FSTX), a clinical-stage biopharmaceutical company dedicated to developing next generation bispecific immunotherapies to transform the lives of patients with cancer,reported that Ares Trading S.A., an affiliate of Merck KGaA, Darmstadt, Germany has exercised its option to develop an additional bispecific program under the ongoing collaboration with F-star (Press release, F-star, APR 1, 2021, View Source [SID1234577551]).

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This is the third option to license a preclinical program that Merck KGaA, Darmstadt, Germany has exercised in the ongoing collaboration with F-star. Merck KGaA, Darmstadt, Germany and F-star originally entered into a collaboration agreement in 2019 with the first option to license. In July 2020, Merck KGaA, Darmstadt, Germany brought the second program from the collaboration into its pipeline, and today has exercised its third option, taking over future development and commercialization of the program. An undisclosed option exercise payment will be made to F-star. Merck KGaA, Darmstadt, Germany will pay future success-based milestones and royalties on any net sales, resulting from programs covered by the agreement.

Eliot Forster, CEO of F-star Therapeutics, Inc, said: "We are delighted that our ongoing partnership with Merck KGaA, Darmstadt, Germany, continues to deliver novel programs, and further demonstrates the capacity of F-star’s proprietary mAb2 antibody platform to produce scientifically and commercially attractive programs in immuno-oncology. Our ongoing collaboration with a trusted partner sits alongside the ongoing development of our four clinical stage next-generation immunotherapies."