By Colin Kellaher
Sino Biopharmaceutical Ltd. on Thursday said its invoX Pharma unit has agreed to buy clinical-stage biopharmaceutical company F-star Therapeutics Inc. for about $161 million.
Hong Kong-based Sino Biopharmaceutical said invoX would pay $7.12 a share for F-star, a nearly 79% premium to Wednesday's closing price of $3.98 for the Cambridge, England, company.
The transaction, which accelerates invoX's strategy to build Sino Biopharmaceutical's international biopharmaceutical research-and-development platform outside of China, is slated to close in the second half of the year.
Trading in shares of F-star was halted premarket on Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
06-23-22 0806ET