F-star has signed a research, licence and commercialisation agreement with Merck Serono, potentially worth up to €492 M (US$692 M) for the discovery of novel monospecific Fc-based targeted biologics (Fcab™) and bispecific IgG-based targeted biologics (mAb² ™) against up to three inflammatory disease targets. Merck Serono will have exclusive worldwide development and commercialisation rights to products discovered under the collaboration. The deal highlights the pharmaceutical industry’s interest in next-generation antibody therapeutics.