F-Star Therapeutics in the spotlight (part II)

Assessing another big pharma validation in the context of an XBI drawdown

Following up on our analysis of the fundamentals behind FSTX (see part I), last week F-Star announced a collaboration with JnJ’s Janssen to develop up to 5 bi-specific antibodies. Janssen will pay F-Star an upfront of $17.5M and milestones up to $1.35B. Janssen will be responsible for all R&D costs.

This is an important announcement for F-Star because it…