Sun Pharmaceuticals to Buy Checkpoint Therapeutics
According to reports, Sun Pharmaceuticals is set to acquire Checkpoint Therapeutics, an immunotherapy and targeted Oncology Company, for $355 million. The transaction is expected to be completed in the second calendar quarter of 2025.
Checkpoint is a commercial-stage, Nasdaq-listed firm that specialises in creating innovative therapies for people with solid tumour malignancies. The U.S. Food & Drug Administration (FDA) has granted the firm a license to use UNLOXCYT (cosibelimab-ipdl) to treat people with locally advanced or metastatic cutaneous squamous cell carcinoma (cSCC) who are not candidates for curative radiation therapy or surgery.
Dilip Shanghvi, Chairman & Managing Director of Sun Pharma says, “Combining UNLOXCYT, an FDA-approved anti-PD-L1 treatment for advanced cutaneous squamous cell carcinoma, with Sun Pharma’s global presence means patients with cSCC may soon have access to an important, new treatment option. The acquisition further bolsters our innovative portfolio in onco-derm therapy.”
“I am proud of the dedication and passion of our team at Checkpoint that allowed us to achieve the first and only FDA-approved anti-PD-L1 treatment for patients with advanced cSCC," says James Oliviero, President and Chief Executive Officer of Checkpoint.
"We are excited to enter this transaction with Sun Pharma as the next step to bringing UNLOXCYT to cSCC patients in need of a differentiated immunotherapy treatment option,” says James.
“Sun Pharma is aligned with Checkpoint’s commitment to improving the lives of skin cancer patients, and I believe this transaction will maximize value for our stockholders and provide accelerated access to UNLOXCYT in the United States, Europe and other markets worldwide," James adds.