F-star Alpha, Bristol-Myers deal

Bristol-Myers Squibb received an exclusive option to acquire F-star Alpha and gain worldwide rights to FS102, a preclinical antibody fragment targeting epidermal growth factor receptor 2 ( EGFR2; ErbB2; neu). The F-star Biotechnology Ltd. (Cambridge, U.K.) subsidiary of F-star GmbH (Vienna, Austria) spun out F-star Alpha last year to house FS102. BMS will pay F-star Alpha and its shareholders up to $50 million initially, which includes an option fee, a license fee and a milestone payable when a Phase I trial begins. ...