Sun Pharma Acquires Checkpoint Therapeutics for $355 Million

• Sun Pharmaceutical Industries Ltd announced the acquisition of Checkpoint Therapeutics, Inc., a Nasdaq-listed company specializing in immunotherapy and targeted oncology.
• Checkpoint Therapeutics has FDA approval for UNLOXCYT (cosibelimab-ipdl), a treatment for adults with metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC.
• The acquisition includes an upfront cash payment of $4.10 per share and a contingent value right (CVR) for up to an additional $0.70 per share based on future milestones.
• Dilip Shanghvi, Chairman & Managing Director of Sun Pharma, emphasized the global reach and innovative portfolio in onco-dermatology therapy.
• James Oliviero, President and CEO of Checkpoint, expressed pride in the team's dedication and excitement about the transaction, which aims to expand access to UNLOXCYT for patients in need.

Source: The Hindu, News 18, The Economic Times, Moneycontrol