F-star Therapeutics, Inc.: F-star Therapeutics is Granted Composition of Matter Patent for its Novel Second Generation STING Agonist, SB 11285

Patent protection in U.S. runs through 2037

CAMBRIDGE, United Kingdom and CAMBRIDGE, Mass., Aug. 10, 2021(NASDAQ: FSTX) ("F-star" or the "Company"), a clinical-stage biopharmaceutical company dedicated to developing next generation immunotherapies to transform the lives of patients with cancer, today announced that the United States Patent and Trademark Office (USPTO) has granted the Company a patent (U.S. Patent No. 11,033,569) protecting the composition of matter of F-star's SB 11285, a second generation STING agonist. The patent protection is expected to continue to July 2037, not including any potential patent term extensions.

Neil Brewis, Ph.D., Chief Scientific Officer of F-star, said: "We are encouraged by the latest interim results from the dose-escalation study of SB 11285. Securing patent protection in the U.S. at this critical time in the development of our second-generation STING agonist will ensure advancement of the compound with exclusivity in our approach."

About SB 11285

F-star's SB 11285is differentiated from the first generation of STING agonists, as it is delivered systemically, enabling access to hard-to-reach tumors. Additionally, SB 11285 may facilitate migration of newly activated immune cells from the periphery into the tumor site. Importantly, SB 11285 is active against common STING variants and has demonstrated, in vivo, uptake into the targeted immune cells and has shown long lasting and complete tumor regression in preclinical models.

SB 11285 is being studied in an ongoing multicenter clinical trial) evaluating the safety and efficacy of intravenouslylast month showed that SB 11285 appeared to be well tolerated both alone and in combination with atezolizumab across all dose levels tested to-date.

About F-star Therapeutics, Inc.

F-star is a clinical-stage biopharmaceutical company developing tetravalent bispecific antibodies for a paradigm shift in cancer therapy. By developing medicines that seek to block tumor immune evasion, the Company's goal is to offer patients greater and more durable benefits than current immuno-oncology treatments. Through its proprietary tetravalent, bispecific natural antibodyand follow us on LinkedInand Twitter.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). Forward-looking statements include statements, other than statements of historical fact, regarding, among other things, statements relating to F-star's belief that the patent protection of FS118 will allow F-star to continue to advance the program with the potential for exclusivity. These include statements regarding management's intentions, plans, beliefs, expectations or forecasts for the future, and, therefore, you are cautioned not to place undue reliance on them. Such forward-looking statements are based on F-star's expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors, including, but not limited to, risks relating to F-star's status as a clinical stage immuno-oncology company and its need for substantial additional funding in order to complete the development and commercialization of its product candidates, that it may experience delays in completing, or ultimately be unable to complete, the development and commercialization of its product candidates, that its clinical trials may fail to adequately demonstrate the safety and efficacy of its product candidates, that results of preclinical studies and early stage clinical trials may not be predictive of the results of later state clinical trials, that F-star faces significant competition in its drug discovery and development efforts, risks from global pandemics including COVID-19, and legislative, regulatory, political and economic developments, as well as those risks identified under the heading "Risk Factors" in F-star's filings with the SEC. New factors emerge from time to time and it is not possible for F-star to predict all such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements included in this press release are based on information available to us as of the date of this press release. F-star does not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date of this press release.

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