Lowenstein client Spring Bank Pharmaceuticals, Inc. (Nasdaq: SBPH) (Spring Bank), a clinical-stage biopharmaceutical company developing novel therapeutics for oncology and inflammatory diseases, and F-star Therapeutics Limited (F-star), a privately-held clinical-stage biopharmaceutical company focused on transforming the lives of patients with cancer through the development of innovative tetravalent bispecific (mAb2™) antibodies, today announced that the companies have entered into a definitive share exchange agreement pursuant to which Spring Bank will, subject to stockholder approval, acquire all of the outstanding share capital of F-star in exchange for newly issued shares of Spring Bank in an all-stock transaction. The combined company, operating under the name F-star Therapeutics, Inc., will advance its immuno-oncology pipeline of multiple tetravalent bispecific antibody programs.
By developing medicines that seek to block tumor immune evasion, F-star’s goal is to offer patients greater and more durable benefits than current immuno-oncology treatments. The combined company plans to advance its pipeline through multiple clinical trials.
F-star anticipates raising additional capital at the closing of the proposed combination from current and potential new investors, and the combined company expects to have at least $40 million in cash prior to closing. This financing will help fund the further development of the combined company’s preclinical and clinical immuno-oncology programs.
The Lowenstein deal team included John D. “Jack” Hogoboom, Daniel C. Porco, and Madeline Roe (Corporate); Brian A. Silikovitz and Kristin V. Taylor (Tax); Robert J. Paradiso (Patent Counseling & Prosecution); and Andrew E. Graw and Christine Osvald-Mruz (Executive Benefits & Executive Compensation).
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