DUBLIN Bristol-Myers Squibb Co. is paying $50 million up front and could pay another $425 million to acquire F-Star Alpha Ltd. and its human epidermal growth factor receptor 2 (HER2)-targeted therapy, FS102.
It's a rapid return for Cambridge, UK-based F-star Biotechnology Ltd., following a relatively recent decision to spin out individual programs into single-asset plays. F-Star Alpha raised €9.4 million (US$12.9 million) in a series A round 12 months ago to take FS102 forward. (See BioWorld Today, Oct. 23, 2013.)
The initial $50 million comprises an option fee, a