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Antibody Engineering Company F-Star Buys Back Royalty Obligations
Date:3/28/2008

TVM Capital Joins Investor Syndicate

VIENNA, Austria, March 28 /PRNewswire/ -- f-star, an antibody engineering company developing novel antibodies and antibody fragments based on its unique Modular Antibody Technology, announced today that it has acquired future royalty obligations to New Century Pharmaceuticals (NCP) via a one-off payment.

Modular Antibody Technology was originally developed by Prof. Florian Rueker, one of f-star's founders, in collaboration with NCP, a U.S. biopharmaceutical company. After f-star's foundation, NCP became one of the Company's common shareholders and had rights to future royalty payments. In the course of the transaction, f-star has now bought back these royalty obligations and TVM Capital, a transatlantic venture capital firm based in Munich and Boston, acquired NCP's minority stake in f-star.

"We are very pleased that our technology is now essentially free of royalty obligations," Gottfried Himmler, CEO of f-star, commented on the transaction. "And we are delighted to have TVM Capital, one of the leading life science investors in Europe, joining f-star's strong international investor syndicate."

"It is an honor to become an investor in one of the leading next-generation antibody companies and to join this distinguished syndicate," Axel Polack, General Partner TVM Capital, commented.

About f-star

f-star is an antibody engineering company based in Vienna, Austria. The Company develops improved therapeutic antibodies and antibody fragments based on its Modular Antibody Technology, which allows the introduction of additional binding sites into antibodies and antibody fragments by engineering the non-CDR loops of constant or variable domains. Using Modular Antibody Technology, antibody fragments with antibody functionality and long half-life but much smaller size (Fcab(TM)) or full antibodies with additional functionality (mAb squared) can be created.

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SOURCE f-star Biotechnologische Forschungs- und Entwicklungs-GmbH
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