
F-star's sale to Chinese buyer cleared by CFIUS following months of holdup
After taking several months to review F-star’s proposed sale to a Chinese company, the US government’s Committee on Foreign Investment in the United States (CFIUS) has finally given its blessing for the deal.
The clearance comes almost nine months after invoX Pharma, a subsidiary of China’s Sino Biopharm, first struck a deal to buy out F-star for $161 million in cash.
CFIUS is a longstanding group tasked with scrutinizing transactions involving foreign investments in the US and blocking any deals it deems threatening. But in recent years, the White House has signaled that biotech could be a top area for crackdown, triggering fears that it would create roadblocks for Asian investors interested in US companies.
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