F-star Shares Rise On Bispecific Antibody Therapeutics Pact With Janssen

F-star Therapeutics Ltd FSTX has entered into a license and collaboration agreement with Janssen Biotech Inc, a unit of Johnson & Johnson JNJ.
Under the terms of the agreement, F-star will grant Janssen a worldwide, exclusive royalty-bearing license to research, develop, and commercialize up to five bispecific antibodies directed to Janssen therapeutic targets using F-star's Fcab and mAb2 platforms.
Janssen will be responsible for all research, development, and commercialization activities under the agreement.
Under the terms of the agreement, F-star is entitled to receive upfront fees of $17.5 million, near-term fees, and potential further milestones of up to $1.35 billion.
F-star is also eligible to receive potential tiered mid-single digit royalties on annual net sales.
Related: F-star's FS118 Development Program To Include Checkpoint Naïve Cancer Patients.
Price Action: FSTX shares are up 9.53% at $7.01 during the premarket session on the last check Wednesday.