Dentons advises ImCheck Therapeutics on its acquisition by Ipsen for up to €1 billion

Paris-Dentons office in Paris advised ImCheck Therapeutics and its investors on the acquisition of 100% of its share capital by Ipsen. The transaction provides for an upfront payment of €350 million, plus deferred milestone payments tied to regulatory and sales-based achievements, for a total potential consideration of up to €1 billion.

Closing is expected by the end of the first quarter of 2026, subject to customary regulatory approvals in France and the United States.

The transaction focuses on ICT01, ImCheck's lead Phase I/II program for first-line treatment of acute myeloid leukemia (AML) in patients ineligible for intensive chemotherapy or targeted therapies. Joining the Ipsen group will enable ImCheck Therapeutics to accelerate ICT01 toward registrational studies and broaden patient access.

Dentons has advised ImCheck Therapeutics since 2019, including on its Series B and Series C financings. ImCheck has been supported by leading French, European, and US investors, including Kurma Partners, Eurazeo, Bpifrance through its Innobio 2 and Large Venture funds, Andera Partners, Pfizer Ventures, Gimv, EQT Life Sciences, Earlybird, Wellington Partners, Pureos Bioventures, Invus, Agent Capital, Boehringer Ingelheim Venture Fund, Alexandria Venture Investments, and Blood Cancer United (formerly LLS)®.

This landmark acquisition is one of the largest in France's biotechnology sector and underscores our Life Sciences team's expertise across all stages of growth for innovative companies.

The Parisian team involved was:

• M&A:

• Olivia Guéguen, Partner
• Pierre-Marie Gallo, Counsel
• Lisa Morand, Associate

• Foreign investment control:

• Emmanuelle van den Broucke, Partner
  

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