invoX Pharma And F-star Therapeutics Issue Joint Statement; Parties Continue Working Together In Active Discussions With The Committee On Foreign Investment In The United States

invoX Pharma ("invoX"), a wholly owned subsidiary of Sino Biopharmaceutical Limited ("Sino Biopharm") (HKEX 1177 HK), and F-star Therapeutics, Inc. ("F-star") (NASDAQ:FSTX), today issued the following statement regarding their pending transaction in response to a media report:
 

The parties continue working together in active discussions with the Committee on Foreign Investment in the United States ("CFIUS") about the terms of a mitigation agreement to address CFIUS's concerns regarding potential national security risks posed by the transaction. The parties are actively negotiating with CFIUS regarding the definitive terms of such mitigation agreement in order to permit the removal of CFIUS's Interim Order and the completion of the transaction by the Expiration Date, which is 5:00 pm., Eastern Time, on January 31, 2023, unless extended.  

As previously described, the Merger Agreement may be terminated by either party, subject to certain exceptions, if any of the Offer conditions, are not satisfied or waived, to the extent waiveable, by Purchaser on or before the End Date, one minute past 11:59 p.m., Eastern Time, on January 31, 2023, unless further amended by the parties. There can be no assurances that the parties will reach agreement with CFIUS on a mitigation agreement.