Sun Pharma Completes Acquisition of Checkpoint Therapeutics, Gaining UNLOXCYT™, a First-in-Class Anti-PD-L1 Treatment for Advanced Cutaneous Squamous Cell Carcinoma
Sun Pharmaceutical Industries Limited has successfully completed its acquisition of Checkpoint Therapeutics, Inc., an immunotherapy and targeted oncology company. The acquisition includes UNLOXCYT™, the first and only FDA-approved anti-PD-L1 treatment for advanced cutaneous squamous cell carcinoma (cSCC). This acquisition exemplifies Sun Pharma’s commitment to supporting patients and growing its innovative therapies business, particularly in the onco-dermatology space. Financial terms include Sun Pharma acquiring all outstanding shares of Checkpoint at a price of $4.10 per share in cash, plus one non-tradable contingent value right (CVR) per share representing the right to receive up to an additional $0.70 in cash if certain specified milestones are met.
Key Highlights
- Sun Pharma completes acquisition of Checkpoint Therapeutics, an immunotherapy and targeted oncology company.
- Acquisition includes UNLOXCYT™, the first and only FDA-approved anti-PD-L1 treatment for advanced cSCC.
- Deal exemplifies Sun Pharma’s commitment to supporting patients and growing its innovative therapies business.
- Transaction involves Sun Pharma acquiring all outstanding shares of Checkpoint at a price of $4.10 per share in cash, plus one non-tradable contingent value right (CVR) per share.
- UNLOXCYT™ is a significant addition to Sun Pharma’s onco-dermatology portfolio.