China’s Sino Biopharmaceutical Limited, also known as Sino Biopharm, made a significant move in their on-going global expansion efforts on Thursday, announcing the acquisition of UK-based biotech company, F-star Therapeutics. The acquisition, which was valued at $161 million in cash, was approved by regulatory agencies including the Committee on Foreign Investment in the United States.
F-star Therapeutics, listed on Nasdaq, is a leading biotech firm known for its world-leading platform that leverages its Modular Antibody TechnologyTM to develop new, breakthrough therapies for cancer and other diseases. With this acquisition, Sino Biopharm seeks to capitalize on F-star’s expertise and experience to expand their portfolio of innovative drugs, particularly those targeting cancer.
The acquisition comes at a time when Sino Biopharm is rapidly expanding its presence in the global pharmaceutical market, with the aim of becoming a leading player in the field. Sino Biopharm’s recent acquisitions and strategic partnerships demonstrate its commitment to leveraging its innovative medicine development and commercialization platforms to collaborate with overseas biotech firms and multinational pharmaceutical companies.
Commenting on the acquisition, Theresa Tse, Chairwoman of Sino Biopharm, expressed her optimism about the potential of this new acquisition to enhance the company’s capabilities in developing innovative drugs with high accessibility and efficacy. Tse noted that F-star’s world-leading platform and cutting-edge Modular Antibody TechnologyTM will be instrumental in achieving this goal.
Furthermore, Tse emphasized Sino Biopharm’s commitment to addressing unfulfilled clinical needs by continuing to actively cooperate with multinational pharmaceutical companies and overseas biotech enterprises. She expressed her belief that by leveraging their expertise and resources, Sino Biopharm can better meet the growing demand for innovative and accessible treatments for patients around the world.
In conclusion, Sino Biopharm’s acquisition of F-star Therapeutics is a significant milestone in the company’s global expansion strategy. By leveraging F-star’s expertise and cutting-edge technology, Sino Biopharm aims to develop new and innovative drugs that will benefit cancer patients both in China and globally. This acquisition demonstrates Sino Biopharm’s commitment to collaborating with overseas partners and contributing to the global pharmaceutical market.