Shots:
- Sun Pharma to acquire Checkpoint Therapeutics for ~$355M to strengthen its onco-derm innovative portfolio with Unloxcyt (cosibelimab-ipdl); closing expected in Q2’25
- As per the deal, Checkpoint stockholders will get $4.10 cash/share (~66% premium) upfront & CVR/share without interest allowing stockholders to receive additional $0.70 cash/share if Unloxcyt is approved before certain deadlines in the EU or in Germany, France, Italy, Spain or UK as per CVR agreement
- Checkpoint, Sun, & Fortress Biotech have also signed royalty agreement, granting Fortress royalties on future Unloxcyt sales during a specified term, replacing prior rights from Checkpoint’s establishment after closing
Ref: Sun Pharma | Image: Checkpoint Therapeutics
Related News:- Checkpoint Therapeutics’ Unloxcyt (Cosibelimab-ipdl) Receives the US FDA’s Approval for Cutaneous Squamous Cell Carcinoma (cSCC)
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