Market Overview

F-star Announces the Achievement of a Clinical Milestone in its Immuno-Oncology Collaboration with Merck

  • Enrolment and dose escalation in FS118 Phase I clinical study
    trigger milestone payment

F-star, a clinical-stage biopharmaceutical company developing novel
bispecific antibodies (mAb²™), today announces that FS118 has
successfully reached the first clinical milestone in its collaboration
with Merck, a leading science and technology company.

FS118 is a first-in-class antagonist mAb² which simultaneously targets
the LAG-3 and PD-L1 immuno-suppressive pathways and which has the
potential to overcome tumour resistance and restore the natural
anti-cancer immune response.

In May 2018, FS118
entered into a Phase I study
in patients with advanced malignancies
that have progressed on PD-1/PD-L1 therapy.

"Achieving this clinical milestone is a significant step in our
alliance with Merck"
said John Haurum, CEO of F-star.
"FS118 is uniquely positioned as a first-in-class treatment for cancer
patients. We are pleased with the progress being made and look forward
to advancing our next mAb² molecules into the clinic."

Under the collaboration, which was announced
in June 2017
, Merck has an exclusive option to acquire FS118 and a
further four early stage immuno-oncology bispecific antibody programmes
which are under discovery and development by F-star. Further payments
are contingent on option exercise and achievement of clinical and
commercial milestones with a potential total deal value reaching over

FS118 was generated using F-star's proprietary Modular Antibody
Technology™ by incorporating an anti-LAG-3 Fcab™ (Fc-region with antigen
binding) into a PD-L1-specific antibody. Further information about the
ongoing Phase I clinical trial is available on NCT03440437.

- ENDS -

About F-star

F-star is a clinical-stage biopharmaceutical company committed to
delivering life-changing treatments to cancer patients. Through our
highly efficient Modular Antibody Technology™ platform, we are building
and progressing an extensive immuno-oncology pipeline of mAb²™, a novel
class of disruptive bispecific antibodies designed to unlock new biology
which cannot be achieved by combining monospecific drugs. F-star's
technological expertise and scientific approach have been validated
through strategic partnerships with leaders in the pharma and biotech

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