On 9 March 2025, Sun Pharma and Checkpoint Therapeutics announced that they have entered into an agreement for Sun Pharma to acquire Checkpoint Therapeutics. Under the deal, Sun Pharma will own Checkpoint’s leading biopharmaceutical Unloxcyt™ (cosibelimab).
Unloxcyt™ received FDA approval in December 2024 for the treatment of adults with metastatic cutaneous squamous cell carcinoma or locally advanced cSCC who are not candidates for curative surgery or curative radiation. The approval followed Checkpoint Therapeutics resubmission of its BLA to the FDA in July 2024.
According to the announcement, Checkpoint Therapeutics shareholders will receive a cash payment of USD$4.10 per share, but will be entitled to receive an additional USD$0.70 per share if cosibelimab is approved prior to certain deadlines in the European Union pursuant to the centralised approval procedure, or in Germany, France, Italy, Spain or the United Kingdom, subject to the terms and conditions in the agreement.