Backers included Atlas Venture, Aescap Venture, TVM Capital, SR One, MP Healthcare Venture Management, and MS Ventures.
Formed by F-star, F-star Alpha will receive an exclusive licence to FS102, an Fcab™ antibody fragment, which eliminates HER2-positive cancer cells through a novel apoptotic mechanism of action. Furthermore, a genetic predictive biomarker has been identified, which allows selection of patients likely to respond to therapy. FS102 is now progressing to clinical testing in breast, gastric and colorectal cancer.
In addition, F-star Alpha receives a licence for the generation of Fcabs or bispecific antibodies (mAb2™) against up to 22 other oncology and immuno-oncology targets. In return, F-star will receive a combination of milestone payments and tiered royalties.
The company intends to use the funds to carry out IND-enabling studies with FS102 as well as to discover novel immuno-oncology therapies aimed at activating the patient’s immune system against cancer.