Press Release November 03, 2014

Goodwin Procter Represents F-star Alpha in up to $475 Million Exclusive Purchase Option with Bristol-Myers Squibb

Goodwin attorneys recently advised F-star Alpha Ltd in connection with its exclusive option agreement with Bristol-Myers Squibb. Bristol-Myers Squibb has purchased an exclusive option to acquire F-Star Alpha and thereby gain worldwide rights to FS102, a Human Epidermal growth factor Receptor 2 (HER-2)-targeted therapy. Under the terms of the agreement, Bristol-Myers Squibb will make payments aggregating to $50 million that consist of an option fee for the right to acquire F-star Alpha, payment for certain rights and licenses from F-star Alpha and a clinical milestone payment upon initiation of the Phase 1 trial. Total aggregate consideration may reach $475 million. Additional details regarding the transaction are available in BMS’s press release.

F-star GmbH and its wholly-owned subsidiary F-star Biotechnology Ltd. is a biopharmaceutical company dedicated to developing novel bispecific antibody products that provide a significant improvement over the current standard of care. In 2013, F-star established an asset-centric vehicle structure through the formation of F-star Alpha Ltd., which included out-licensing of FS102 from F-star Biotechnology to F-star Alpha Ltd.

The Goodwin team advising F-star included Kingsley Taft, Rob Puopolo, Sarah Solomon and Maggie Wong, with support from Emily Beman and Todd Hahn.