Ipsen Acquires ImCheck Therapeutics in €1 Billion Deal, Boosting Oncology Pipeline

French pharmaceutical company Ipsen has announced its acquisition of ImCheck Therapeutics, a next-generation immuno-oncology biotech, in a deal worth up to €1 billion. The acquisition, expected to close by the end of Q1 2026, centers on ImCheck's lead clinical-stage program for acute myeloid leukemia (AML) and reinforces Ipsen's commitment to expanding its oncology portfolio.

Acquisition Details and Financial Terms

Ipsen will pay ImCheck shareholders an initial €350 million at deal close, with the potential for additional payments of up to €650 million tied to regulatory approvals and sales-based milestones. The total value of the deal could reach €1 billion (approximately $1.16 billion), signaling Ipsen's strong interest in ImCheck's innovative approach to cancer treatment.

David Loew, CEO of Ipsen, emphasized the strategic importance of the acquisition, stating, "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."

ImCheck's Lead Asset: ICT01

The centerpiece of the acquisition is ImCheck's lead program, ICT01, an investigational cancer combination therapy. ICT01 is a monoclonal antibody targeting BTN3A, which has shown promising results in combination with venetoclax and azacitidine for the treatment of AML patients who are ineligible for intensive chemotherapy.

In the ongoing phase 1/2 trial called Eviction, the ICT01 combination demonstrated "high response rates" in adverse-risk patients. Interim data revealed that treatment responses nearly doubled compared to historical standard of care data across all subtypes in newly diagnosed patients. Additionally, the combination appears to be well-tolerated.

Future Development Plans

Ipsen plans to advance ICT01's development by launching a phase 2b/3 trial in 2026. The company aims to position the ICT01 combination as a potential new standard of care for first-line AML patients who cannot receive intensive chemotherapy.

Pierre d'Epenoux, CEO of ImCheck, expressed enthusiasm about joining Ipsen, stating that the acquisition will help "accelerate ICT01 toward registrational studies and commercialization." The antibody has already received orphan drug designations from both the FDA and the European Medicines Agency, highlighting its potential as a first-in-class therapy.