Regeneron to Acquire Checkmate Pharmaceuticals

Apr 19, 2022 By MarketDepth

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Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) has announced a definitive agreement to acquire Checkmate Pharmaceuticals, Inc. (NASDAQ: CMPI) at an all cash value of USD 10.50 per share of Checkmate common stock.  The acquisition values Checkmate at a total equity value of USD 250 Million.  “As we continue to advance and expand our research efforts in immuno-oncology, the acquisition of Checkmate will add a promising new modality to Regeneron’s toolkit of potential approaches for difficult-to-treat cancers,” said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. “The unique combination of a differentiated Toll-like receptor 9 with other antibody-based oncology agents may result in increased clinical benefit and provide new treatment options for patients in need. We look forward to welcoming the Checkmate team and their complementary scientific acumen to the Regeneron family.”

“We are thrilled that Checkmate will become part of Regeneron, a biotechnology leader that shares our deep appreciation for science, hunger for ground-breaking discoveries and commitment to helping patients defeat cancer.”

Alan Bash, President and Chief Executive Officer of Checkmate

“We believe that the data we have generated with vidutolimod positions Checkmate at the forefront of the innate immune activator field. It is our hope that Regeneron’s resources and expertise will help accelerate the development of vidutolimod and realization of the full potential of our virus-like particle (VLP) platform for immunotherapy,” said Art Krieg, M.D., Checkmate’s Founder and Chief Scientific Officer.