Regeneron to acquire Checkmate Pharma and with it vidutolimod, a TLR 9 agonist.
Regeneron Pharmaceuticals, Inc.and Checkmate Pharmaceuticals, Inc., a clinical stage biopharmaceutical company focused on proprietary technology to harness the power of the immune system to combat cancer, announced a definitive agreement for the acquisition of Checkmate by Regeneron at an all-cash price of $10.50 per share of Checkmate common stock.
The proposed acquisition values Checkmate at a total equity value of approximately $250 million. Checkmate's lead investigational candidate is vidutolimod, an advanced generation CpG-A oligodeoxynucleotide Toll-like receptor 9 (TLR9) agonist delivered in a virus-like particle. Vidutolimod is administered into the tumor and is believed to induce and expand anti-tumor T cells and induce tumor regression as a monotherapy in patients whose tumors previously progressed on PD-1 checkpoint inhibition.
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