Acquisitions10 Mar 2025, 12:34 pm
Sun Pharma to Acquire Checkpoint Therapeutics for $355 Million, Adding FDA-Approved Anti-PD-L1 Treatment UNLOXCYT™ for Metastatic Cutaneous Squamous Cell Carcinoma
AI Summary
Sun Pharmaceutical Industries Limited (Sun Pharma) has entered into an agreement to acquire Checkpoint Therapeutics, Inc. (Checkpoint), a commercial-stage immunotherapy and targeted oncology company. The acquisition will add UNLOXCYT™ (cosibelimab-ipdl), the first and only FDA-approved anti-PD-L1 treatment for metastatic or locally advanced cutaneous squamous cell carcinoma (cSCC), to Sun Pharma’s global onco-derm franchise. Sun Pharma will make an upfront cash payment of 54.10 per share of common stock, representing aggregate upfront consideration of up to $355 million. The acquisition is subject to approval by Checkpoint’s stockholders and other customary closing conditions.
Key Highlights
- Sun Pharma to acquire Checkpoint Therapeutics for up to $355 million in cash.
- Acquisition adds UNLOXCYT™ (cosibelimab-ipdl), the first and only FDA-approved anti-PD-L1 treatment for metastatic or locally advanced cSCC, to Sun Pharma’s global onco-derm franchise.
- Sun Pharma aims to leverage its global presence to accelerate patient access to UNLOXCYT™ (cosibelimab-ipdl).
- The transaction is subject to approval by Checkpoint’s stockholders and other customary closing conditions.
- The acquisition strengthens Sun Pharma’s innovative portfolio in onco-derm therapy.