Regeneron acquires Checkmate Pharmaceuticals for $250M

Regeneron Pharmaceuticals Inc. is acquiring Checkmate Pharmaceuticals Inc., a Cambridge, Massachusetts-based biopharmaceutical company focused on clinical stage cancer treatment, in a $250 million all-cash transaction.

Checkmate’s lead investigational candidate is vidutolimod, which is administered into a 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.

“As we continue to advance and expand our research efforts in immuno-oncology, the acquisition of Checkmate will add a promising new modality to Regeneron’s toolkit of potential approaches for difficult-to-treat cancers,” said Leonard S. Schleifer, president and CEO of Tarrytown-headquartered Regeneron.

“We are thrilled that Checkmate will become part of Regeneron, a biotechnology leader that shares our deep appreciation for science, hunger for ground-breaking discoveries and commitment to helping patients defeat cancer,” added Alan Bash, president and CEO of Checkmate.