Item 8.01. Other Events.
On January 5, 2022, F-star Therapeutics, Inc. ("F-star") issued a press release
announcing that Ares Trading S.A., an affiliate of Merck KGaA, Darmstadt,
Germany ("Merck"), has exercised a fourth licensing option to develop another
bispecific program under the ongoing immuno-oncology collaboration between
F-star and Merck. Under the terms of the agreement, Merck will be responsible
for all future development and commercialization costs and will pay future
success-based milestones and royalties on any net sales, resulting from programs
covered by the agreement. In May 2019, Merck exercised its option to bring a
first program from the collaboration into its pipeline. In July 2020, Merck took
an early option to a second program, and in March 2021, a third option was
exercised. With the fourth option now exercised, the total potential remaining
milestone-based revenue due to F-star from this immuno-oncology collaboration
with Merck is approximately $765 million. A copy of the press release is
attached hereto as Exhibit 99.1, and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is furnished with this report:
Exhibit
Number Description
99.1 Press release dated January 5, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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