![]() ![]() Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Regeneron. Centerview Partners LLC served as financial advisor and Goodwin Procter LLP served as legal counsel to Checkmate. At this time, there is no change to Regeneron's 2022 GAAP and non-GAAP financial guidance as a result of this transaction. Consequently, the total acquisition cost allocated to the acquired in-process research and development is expected to be expensed in the second quarter of 2022 and will be included in non-GAAP financial results. Regeneron anticipates accounting for this transaction as an asset acquisition. As a result of the acquisition, Checkmate common stock have ceased to be traded on the Nasdaq Global Market. Following its acceptance of the tendered shares, Regeneron completed its acquisition of Checkmate through a second step merger of Scandinavian Acquisition Sub, Inc. with and into Checkmate. All of the conditions of the offer have been satisfied, and Regeneron has paid $10.50 per share (without interest) for all shares that were validly tendered, which is the same price as in the tender offer. The tender offer by Regeneron for shares of Checkmate expired one minute after 11:59 p.m., Eastern Time, on Friday, May 27, 2022. Broadridge Corporate Issuer Solutions, Inc., the depository and paying agent for the tender offer, advised Regeneron that as of the tender offer expiration, a total of 18,471,314 shares had been validly tendered and not validly withdrawn, representing approximately 83.8% of the outstanding shares. With Libtayo ® (cemiplimab) as our anti-PD-1 backbone and a differentiated scientific approach, Regeneron is well positioned to make meaningful progress for people with cancer." "Our increasingly diverse portfolio enables strategic flexibility and creativity as we advance monotherapy and combination candidates for difficult-to-treat cancers. ![]() Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. "As we continue to deepen and expand our efforts in immuno-oncology, the acquisition of Checkmate adds a potentially best-in-class clinical asset, as well as a promising underlying technology platform in the VLP delivery system," said Leonard S. TARRYTOWN, N.Y., May 31, 2022 /PRNewswire/ - Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced that it has successfully acquired Checkmate Pharmaceuticals, Inc., deepening its commitment to immuno-oncology and adding a new modality to the company's portfolio of potential combination-ready approaches for difficult-to-treat cancers.Ĭheckmate's lead investigational candidate, vidutolimod, is an advanced generation CpG-A oligodeoxynucleotide Toll-like receptor 9 (TLR9) agonist delivered in a virus-like particle (VLP) and has demonstrated clinical responses as a monotherapy in patients with PD-1 refractory melanoma. The Chase Group is proud to partner with Checkmate and contribute to their success as they work to harness the power of the immune system to combat cancer.Acquisition strengthens Regeneron's innovative portfolio of immuno-oncology candidates and diversified approach to cancer treatment Osei Tutu joins a team of scientists, physicians, and life sciences entrepreneurs who are dedicated to discovering and developing new approaches to fighting cancer. A growing body of promising clinical data demonstrates its potential to address the unmet need for patients whose cancers are resistant to immunotherapeutic agents. Checkmate is investigating their lead candidate, vidutolimod, across multiple tumor types in combination with checkpoint inhibitor immunotherapies in melanoma and non-melanoma skin cancers and head and neck cancer. Checkmate Pharmaceuticals is a clinical-stage biotechnology company focused on developing its proprietary technology to harness the power of the immune system to combat cancer. Osei Tutu responsibility for the development and execution of Checkmate’s global regulatory strategy as the team’s regulatory expert. Osei Tutu brings valuable regulatory experience in the immune-oncology landscape to the team at Checkmate as they keep their focus on important regulatory milestones for vidutolimod. ![]() The Chase Group is pleased to announce the successful recruitment of Elvis Osei Tutu, PharmD, as the Vice President, Head of Regulatory Affairs at Checkmate Pharmaceuticals. ![]()
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