EQT Life Sciences' ImCheck Therapeutics Acquired by Ipsen for Up to €1 Billion

EQT Life Sciences' ImCheck Therapeutics to Be Acquired by Ipsen

In a significant move in the biotechnology sector, EQT Life Sciences has announced that Ipsen has entered into a definitive share purchase agreement to acquire ImCheck Therapeutics. This transaction is valued at up to €1 billion, with an initial payment of €350 million to ImCheck's shareholders at closing, alongside potential downstream payments.

Founded in Marseille, France, ImCheck Therapeutics has been at the forefront of pioneering next-generation immuno-oncology therapies, particularly focused on targeting a unique group of immune-regulating proteins known as butyrophilins.

ImCheck's Leading Drug: ICT01

The gem in ImCheck's portfolio is its lead drug ICT01, which is currently undergoing clinical trials for patients with acute myeloid leukemia (AML) who are not suitable for standard treatment. The early results from Phase I/II trials have shown promising responses, indicating the drug's potential as a game-changer in cancer therapy. ICT01 is notable for being a first-in-class monoclonal antibody tailored to target BTN3A, a critical immune-regulatory molecule expressed in many cancer types.

Support from EQT Life Sciences

EQT Life Sciences, which has been a supporter of ImCheck since 2017, has not only provided financial backing but also strategic direction at the board level. Vincent Brichard, a Venture Partner at EQT Life Sciences and a board member at ImCheck, expressed pride in supporting the biotechnology company’s journey towards this significant acquisition. He remarked that this deal underscores both the strength of ImCheck’s platform and the capabilities of its exceptional team.

Pierre d'Epenoux, CEO of ImCheck Therapeutics, hailed the acquisition as a monumental milestone, shining a light on groundbreaking science that originates from French academia. He emphasized EQT Life Sciences' role in providing more than just financial support, citing essential strategic guidance and unwavering confidence in his leadership that aided the company in advancing pioneering scientific ideas to late-stage clinical development.

Conclusion and Future Outlook

The acquisition is part of a broader strategy under the France 2030 investment program, aimed at bolstering promising French biotech initiatives. EQT Life Sciences celebrated another successful exit with this transaction, following the previous acquisition of Amolyt Pharma by AstraZeneca in 2024, showcasing its expertise in identifying and nurturing leading European biotech companies for global success.

The transaction is expected to finalize by the end of Q1 2026, pending all regulatory approvals in both France and the United States, setting the stage for a new chapter in the career of ImCheck Therapeutics under the Ipsen umbrella.