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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