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As Biotech M&A Activity Gingerly Rises, Regeneron Makes Moves On Checkmate

Paying $250m For Vidutolimod Developer

 
• By Ayisha Sharma

Regeneron hopes to bolster its immuno-oncology pipeline with the acquisition of Checkmate, which joins a spate of similar deals suggesting renewed interest in biotech investment despite an industry-wide slowdown.

Checkmate's Lead Candidate Could Be Best-In-Class • Source: Alamy

Regeneron Pharmaceuticals, Inc. will acquire Checkmate Pharmaceuticals, Inc. in a $250m deal, marking the fourth biotech deal this month which hints at increasing appetite in investment even as the broader biotech bubble bursts.

The US firm, which has previously never acquired a public company, hopes to strengthen its immuno-oncology portfolio with the deal, which was announced on 19 April and should close in mid-2022. Under the terms of the agreement, Regeneron will initiate a tender offer to buy all outstanding shares of Checkmate at a price of $10

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