U.S. Interagency Committee Places Hold on invoX Acquisition of F-Star

The U.S. government’s interagency Committee on Foreign Investment in the United States (CFIUS) has blocked a merger between Sino Biopharm subsidiary invoX Pharma and F-Star Therapeutics, citing “unresolved national security risks.”

The merger, inked in June, had China-based invoX Pharma acquiring UK- and U.S.-based F-Star Therapeutics. The deal was scheduled to close on Dec. 30.

The purpose of the CFIUS interim order is give the committee time to continue its review of the acquisition.