The board of directors of Sino Biopharmaceutical Limited announced that F-star Therapeutics, Inc. entered into a strategic discovery collaboration and licence agreement with Takeda. The collaboration will leverage F-star's proprietary fully-human FcabTM and tetravalent mAb² TM platforms to research and develop next-generation multi-specific immunotherapies for patients with cancer. Under the terms of the agreement, F-star and Takeda will jointly research and develop novel Fcab domains against undisclosed immuno-oncology targets.

Takeda will receive a worldwide, exclusive royalty-bearing licence to research, develop, and commercialise antibodies incorporating Fcab domains arising from the collaboration, and F-star will retain the right to research, develop, and commercialise antibodies incorporating certain other Fcab domains. F-star will receive an undisclosed upfront payment as well as research funding for the period of the collaboration. F-star is also eligible to receive potential future development and commercialisation milestone payments of up to approximately US$1 billion if all milestones across multiple programs are reached during the term of the agreement, plus royalties on potential annual net sales of any commercial product resulting from the licence.

This collaboration and licence agreement represents the third licence agreement that F-star and Takeda have established. Licence agreements for a first and second immune-oncology bispecific antibody were announced in July 2022 and March 2023, respectively. Entering into this collaboration and licence agreement further expands the Group's relationship with Takeda which shares the Group's vision of developing pioneering multi-specific immunotherapies so more people with cancer can live longer with improved lives.

This strategic collaboration leverages the capabilities of both companies by combining F-star's clinically validated FcabTM and mAb² TM platforms with Takeda's unique understanding of the immune system and its ability to progress drugs to the clinic.