Ipsen has entered into a strategic agreement to acquire French immunotherapy specialist ImCheck Therapeutics in a transaction valued at up to €1bn.
Under the terms of the agreement, a wholly owned Ipsen affiliate will purchase all issued and outstanding shares of ImCheck Therapeutics for an initial payment of €350m. Additional deferred payments, linked to the achievement of specific regulatory and commercial milestones, could bring the total consideration to €1bn. The acquisition is expected to close in early 2026, subject to customary closing conditions.
“This transaction recognises groundbreaking science originating from French academia,” said Pierre d’Epenoux, CEO, ImCheck Therapeutics. “It also highlights the…advance [in] the understanding of butyrophilns and gamma delta T cells. Joining Ipsen will help us accelerate ICT01 toward registrational studies and commercialisation.”
As part of the acquisition, Ipsen will gain ownership of ICT01, ImCheck’s lead clinical candidate for patients with acute myeloid leukaemia (AML) who are ineligible for intensive chemotherapy. ICT01 is a monoclonal antibody designed to activate specific T cells that recognise and eliminate tumour cells. The candidate received Orphan Drug Designation from both the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) in 2025.
Interim data from the ongoing phase 1/2 EVICTION study showed statistically significant and clinically meaningful responses in patients treated with ICT01 in combination with venetoclax and azacitidine (Ven-Aza). Ipsen and ImCheck highlighted the data as evidence of the therapy’s potential to serve as a novel immunotherapy approach to improve outcomes for AML patients.
“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,” said David Loew, CEO, Ipsen. “We feel confident that with the ICT01 promising data combined with Ipsen’s global development and commercialisation expertise, we are well positioned to start a phase 2b/3 trial in 2026.”