By Colin Kellaher


Shares of F-star Therapeutics Inc. jumped more than 15% after U.S. regulators finally approved the acquisition of the clinical-stage biopharmaceutical company by a unit of Sino Biopharmaceutical Ltd.

F-star last year agreed to be acquired by Sino's invoX unit for about $161 million, or $7.12 a share, but the U.S. panel that reviews foreign investments for national-security concerns late last year blocked the deal, saying it needed more time to review it.

F-star and invoX extended the deal deadline several time while trying to win approval from the Committee on Foreign Investment in the U.S., better known as Cfius, and F-star on Tuesday said the panel has now given its blessing.

InvoX's tender offer for F-star is now slated to expire Wednesday, and F-star said the companies expect to complete the transaction promptly following the successful completion of the tender offer.

F-star shares were recently changing hands at $7.11, up nearly 17%.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

03-07-23 1055ET