Regeneron makes closing move on Checkmate, gaining cancer program in $250M deal

Regeneron’s acquisition of Checkmate comes at a premium price of more than four times the biotech’s depressed market cap, though it’s roughly the amount the biotech raised during its seven-year history.

The deal gives Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) a TLR9 agonist, vidutolimod, in clinical studies to treat melanoma, other skin cancers, and head and neck cancer. Among several combination trials is a Phase II study of vidutolimod plus Regeneron’s Libtayo cemiplimab-rwlc to treat anti-PD-1 refractory cutaneous squamous cell carcinoma and Merkel cell carcinoma...