F-Star: CFIUS Issues Interim Order Preventing Closing of Pending Merger

 F-star Therapeutics, Inc. (the "F-star") provides the following update regarding its Agreement and Plan of Merger, dated as of June 22, 2022, as amended (the "Merger Agreement"), by and among, the Company, invoX Pharma Limited ("invoX"), Fennec Acquisition Incorporated, a wholly owned subsidiary of invoX ("Fennec" and together with the F-star and invoX, the "Parties"), and Sino Biopharmaceutical Limited, as guarantor ( "Sino Biopharm"):

Effective at December 29, 2022 at 12:05 a.m. Eastern Time, the Committee on Foreign Investment in the United States ("CFIUS") issued an order (the "Interim Order") preventing the consummation of the transactions pursuant to the Merger Agreement, citing unresolved national security risks. The Interim Order also prohibits (1) the transfer, lease, license, sale, or otherwise acquisition of any asset or affiliate of F-star to Sino Biopharm, invoX, or any of their affiliates, or (2) the transfer, lease, license, sale, or acquisition otherwise of any securities, equity, or other ownership interests or rights in F-star or any affiliate of F-star, including any rights to acquire any of the foregoing, by Sino Biopharm, invoX, Fennec, or any affiliates of any of the foregoing, including through merger.

The Interim Order is for an indeterminate duration, lasting until: (1) CFIUS concludes action under Section 721 with respect to the transaction; (2) the President of the United States ("President") takes action or declines to take action under Section 721 with respect to the transaction; or (3) CFIUS or the President revokes or terminates this Interim Order.

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