Ipsen has agreed to acquire the French biotech company ImCheck Therapeutics in a transaction valued at up to €1 billion (approximately $1.16 billion). The acquisition centers on ImCheck’s lead clinical-stage program, ICT01, an investigational monoclonal antibody being developed as a combination therapy for acute myeloid leukemia (AML).
Ipsen plans to integrate ImCheck to strengthen its oncology pipeline, with a focus on advancing ICT01 in combination with venetoclax and azacitidine. The therapy is being studied for patients with first-line AML who are ineligible for intensive chemotherapy. Ipsen CEO David Loew said the company intends to initiate a phase 2b/3 trial of ICT01 next year.
Under the terms of the agreement, Ipsen will pay ImCheck shareholders €350 million (about $406 million) upon closing, which is anticipated by the end of the first quarter of 2026. Additional milestone payments tied to regulatory approvals and sales could bring the total value of the deal to €1 billion.
Interim findings from the ongoing phase 1/2 EVICTION trial showed that ICT01, in combination with venetoclax and azacitidine, achieved “high response rates” in newly diagnosed AML patients, including those with adverse-risk disease. The combination therapy nearly doubled treatment responses compared to historical standard of care data and was observed to be well tolerated. The results were presented earlier this year, including at the American Society of Clinical Oncology meeting.
ICT01 targets BTN3A, an immune-regulatory molecule expressed across several cancers, and has received orphan drug designation from both the U.S. Food and Drug Administration and the European Medicines Agency. Ipsen plans to continue clinical testing of ICT01 in AML and other oncology indications, including solid tumors and melanomas.
For ImCheck, the acquisition marks a transition from a private biotech to part of a larger pharmaceutical organization. ImCheck CEO Pierre d’Epenoux said the company is “thrilled to become part of Ipsen,” noting that the partnership will accelerate ICT01’s progress toward registrational studies and commercialization.
ImCheck’s pipeline also includes additional programs based on its research into the butyrophilin superfamily, a group of immunomodulatory molecules. The company’s approach harnesses γ9δ2 T cells to develop antibodies with potential applications in oncology, autoimmune disorders, and infectious diseases. Beyond ICT01, ImCheck is advancing preclinical candidates such as ICT41, a T cell activator targeting bacterial and viral infections.
European financial firm ODDO BHF commented that “the acquisition of ImCheck strengthens the oncology division and is interesting (new generation antibodies), even if it is a competitive therapeutic area.”
ImCheck’s investors include Pfizer Ventures, EQT Life Sciences, Earlybird, Wellington Partners, Boehringer Ingelheim Venture Fund, and Alexandria Venture Investments. The biotech raised $103 million in a series C financing round in 2022 to expand the ICT01 program.
The acquisition continues Ipsen’s series of recent oncology partnerships. Since 2024, the company has entered multiple licensing and development deals, including collaborations with Foreseen Biotechnology, Day One, and Skyhawk Therapeutics, aimed at advancing its portfolio in solid tumors and neurological diseases.
