Sun Pharma to Acquire Checkpoint Therapeutics for $355 Mn

Pending regulatory and shareholder approvals, the deal is anticipated to close in the second quarter of 2025.

Mumbai-based Sun Pharmaceutical Industries has announced plans to acquire Checkpoint Therapeutics, Inc., a Nasdaq-listed oncology company, in a transaction valued at $355 million. 

The acquisition will strengthen Sun Pharma’s oncology portfolio and expand patient access to Checkpoint’s FDA-approved immunotherapy, UNLOXCYT.

Checkpoint, a US-based commercial-stage biotechnology firm, specializes in developing treatments for solid tumor cancers. It recently secured approval from the US FDA for UNLOXCYT, indicated for adults with metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC who are ineligible for curative surgery or radiation.

Under the agreement, Sun Pharma will acquire all outstanding shares of Checkpoint in cash for $4.10 per share, totaling an upfront consideration of up to $355 million. 

Pending regulatory and shareholder approvals, the deal is anticipated to close in the second quarter of 2025.

Addressing Unmet Needs in Skin Cancer Treatment

cSCC is the second-most prevalent skin cancer in the United States, with an estimated 1.8 million cases annually, according to the Skin Cancer Foundation. While early-stage cases are often manageable through surgical intervention, approximately 40,000 cases progress to advanced stages each year, contributing to an estimated 15,000 deaths in the US.

UNLOXCYT, an anti-PD-L1 monoclonal antibody, offers a treatment option for patients with advanced cSCC with limited therapeutic alternatives. The FDA's approval marks a significant milestone in expanding treatment choices for this high-risk patient population.

With Sun Pharma’s global reach, the acquisition is expected to enhance the availability of UNLOXCYT in multiple markets, potentially accelerating patient access to immunotherapy.