Agreement to buy F-Star Alpha between Bristol-Myers Squibb and F-star Alpha terminated

Agreement to buy F-Star Alpha and its lone asset, FS102 between Bristol-Myers Squibb and F-star Alpha has been terminated. Bristol-Myers Squibb and F-star Alpha, entered into an agreement on October 2014, according to which Bristol-Myers Squibb was granted an exclusive option to acquire F-star Alpha and has been responsible for the clinical development and funding of FS102.

Bristol-Myers Squibb’s decision is based on a prioritisation of opportunities across its oncology portfolio.

FS102 is an Fcab or Fc-domain with antigen binding sites. In preclinical studies FS102 demonstrated potent anti-tumour activity.

F-star CEO, John Haurum said that their productive relationship with Bristol-Myers Squibb has generated valuable clinical data supporting the low immunogenic potential of Fcabs, as well as a favourable pharmacokinetic profile comparable to traditional antibodies.

He further added that the decision by Bristol-Myers Squibb has no impact on the development of their own pipeline and their focus on development of bispecific antibodies in the area of immuno-oncology. They appreciate the challenges of developing therapeutics in the highly-competitive HER2 space, which F-star will be factoring in to their assessment of how to best proceed with the FS102 programme.