F-Star, previously backed by Merck Serono Ventures, signed a deal with the corporate venturing unit’s Germany-based parent, Merck Serono, yesterday to collaborate on the discovery and development of treatments for inflammatory disease. The tie-up could be worth more than €492m ($691.4m) to F-Star if it meets certain milestones, and it would also be eligible for tiered royalties, a statement said.

Susan Herbert, head of portfolio development at Merck Serono, said: "We are very pleased to see our investment in F-Star through Merck Serono Ventures mature into a strategic collaboration, which reinforces our commitment to deliver innovative treatments in the area of inflammatory diseases.  We believe that F-Star’s Modular Antibody Technology has the potential to offer important functional advantages over conventional antibodies and will potentially allow us to generate highly differentiated drugs for patients with so far unmet medical needs." Merck Serono co-led F-Star’s €8m series A extension financing in…

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