Pharmaceutical company Ipsen has acquired ImCheck Therapeutics, a private French biotechnology company pioneering next-generation immuno-oncology therapies.
ImCheck was founded in 2015 based on the research of Professor Daniel Olive, Director of the Immunity and Cancer Laboratory at the Marseille Cancer Research Centre (CRCM). The company has previously raised over €193 milion in funding.
The anticipated acquisition is focused on the lead Phase I/II program ICT01 in first-line acute myeloid leukaemia (AML), for patients who are ineligible for intensive chemotherapy.
ICT01 is a first-in-class monoclonal antibody targeting BTN3A, a key immune-regulatory molecule broadly expressed across cancer, and received Orphan Drug Designations from the US Food and Drug Administration and European Medicines Agency in July 2025.
Many AML patients are unable to tolerate intensive chemotherapy and must rely on lower-intensity options, which often deliver limited and short-lived benefit.2 This high-risk, unfit population continues to face a significant unmet medical need, highlighting the urgency for new therapies that can improve survival and quality of life.
“At completion, the acquisition of ImCheck Therapeutics presents an opportunity for us to expand our pipeline in oncology and reinforces our commitment to deliver transformative therapies to the people who need them most,” said David Loew, CEO, Ipsen.
“We feel confident that with the ICT01 promising data combined with Ipsen’s global development and commercialisation expertise, we are well positioned to start a Phase IIb/III trial in 2026.”
“We are thrilled to become part of Ipsen, a company whose ambition for transformative care matches our commitment to bringing innovative treatments to patients. This transaction recognises groundbreaking science originating from French academia,” said Pierre d’Epenoux, CEO, ImCheck Therapeutics.
“It also highlights the exceptional work the ImCheck team and our partners have achieved to advance the understanding of butyrophilns and gamma delta T cells.
Joining Ipsen will help us accelerate ICT01 toward registrational studies and commercialisation. I remain grateful to the patients and investors for their contributions to furthering ImCheck’s pioneering science.”
Under the terms of the agreement, through a wholly owned affiliate of Ipsen SAS, shareholders of ImCheck Therapeutics will receive a €350 million payment on a cash-free and debt-free basis at closing of the transaction, and deferred payments contingent upon the achievement of specified regulatory approvals and sales-based milestones, for a total potential consideration up to €1 billion.
The transaction is expected to close by the end of Q1 2026, subject to the fulfilment of customary closing conditions, including the expiration or termination of any required regulatory and governmental approvals under French and US regulations.
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