Lowenstein client Spring Bank Pharmaceuticals, Inc. (Nasdaq: SBPH) (Spring Bank), a clinical-stage biopharmaceutical company developing novel therapeutics for oncology and inflammatory diseases, and F-star Therapeutics Limited (F-star), a privately-held clinical-stage biopharmaceutical company focused on transforming the lives of patients with cancer through the development of innovative tetravalent bispecific (mAb2™) antibodies, today announced that the companies have entered into a definitive share exchange agreement pursuant to which Spring Bank will, subject to stockholder approval, acquire all of the outstanding share capital of F-star in exchange for newly issued shares of Spring Bank in an all-stock transaction. The combined company, operating under the name F-star Therapeutics, Inc., will advance its immuno-oncology pipeline of multiple tetravalent bispecific antibody programs.

By developing medicines that seek to block tumor immune evasion, F-star’s goal is to offer patients greater and more durable benefits than current immuno-oncology treatments. The combined company plans to advance its pipeline through multiple clinical trials.

F-star anticipates raising additional capital at the closing of the proposed combination from current and potential new investors, and the combined company expects to have at least $40 million in cash prior to closing. This financing will help fund the further development of the combined company’s preclinical and clinical immuno-oncology programs.

The Lowenstein deal team included John D. “Jack” Hogoboom, Daniel C. Porco, and Madeline Roe (Corporate); Brian A. Silikovitz and Kristin V. Taylor (Tax); Robert J. Paradiso (Patent Counseling & Prosecution); and Andrew E. Graw and Christine Osvald-Mruz (Executive Benefits & Executive Compensation).

About Lowenstein Sandler LLP
Lowenstein Sandler is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.