Pharma BD Deal Intelligence

Ipsen S.A. / ImCheck Therapeutics SAS

2025 · Acquisition/Merger · Complete

Ipsen entered a definitive share purchase agreement to acquire all outstanding shares of ImCheck Therapeutics, a private French immuno-oncology company. ImCheck shareholders receive EUR 350 million at closing (cash-free, debt-free basis), with deferred regulatory and sales-based milestone payments taking total consideration to up to EUR 1 billion. The deal is centred on ICT01, a first-in-class anti-BTN3A monoclonal antibody that activates gamma-delta T cells, in the Phase I/II EVICTION trial in first-line acute myeloid leukemia patients ineligible for intensive chemotherapy; Ipsen plans a Phase IIb/III start in 2026. No USD figure was disclosed, so deal value is recorded in EUR only.

Key facts

• Announced Oct 22, 2025
• Closed Dec 15, 2025
• Deal type Acquisition/Merger
• Therapeutic area Oncology, Hematology
• Indications Acute myeloid leukemia
• Key assets ICT01
• Mechanism Anti-BTN3A (butyrophilin 3A) monoclonal antibody; gamma-delta T-cell activator

Related deals

• Ipsen S.A. / Exelixis Inc. (2016)
• Ipsen S.A. / Kartos Therapeutics, Inc. (2026)
• Ipsen S.A. / Memo Therapeutics AG (2026)
• Ipsen S.A. / Clementia Pharmaceuticals Inc. (2019)
• Ipsen S.A. / GENFIT (2021)
• Ipsen S.A. / Simcere Zaiming Pharmaceutical Co., Ltd. (2025)

← Browse all deals  ·  How we score deals

More: 2025 deals  ·  Ipsen S.A. deals  ·  Oncology deals