CFIUS re­view trig­gers de­lay on F-star's sale to Chi­nese play­er

For F-star, the once high-fly­ing UK biotech helmed by Eliot Forster, the $161 mil­lion all-cash ac­qui­si­tion by Chi­na’s Sino Bio­pharm was a last re­sort as it grap­pled with a bru­tal pub­lic mar­ket and dwin­dling cash re­serves.

But even that deal is run­ning in­to a snag.

Nas­daq-list­ed F-star and in­voX Phar­ma, the Sino sub­sidiary be­hind the takeover bid, an­nounced they are ex­tend­ing the deal time­frame “in or­der to fa­cil­i­tate on­go­ing CFIUS re­view of the pro­posed trans­ac­tion.”

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