Ipsen to Acquire ImCheck Therapeutics for Up to €1 Billion to Advance First-in-Class Anti-BTN3A Antibody ICT01 in Frontline AML

October 22, FranceParis and Marseille, Ipsen and ImCheck Therapeutics announced that they have reached a definitive share purchase agreement under which Ipsen will acquire all issued and outstanding shares of ImCheck Therapeutics for 1 billion euros. The anticipated acquisition focuses on the Phase I/II lead project ICT01 for frontline acute myeloid leukemia (AML) patients who are ineligible for intensive chemotherapy. ICT01 is a first-in-class targeted therapy.BTN3A (that is CD277）Monoclonal antibody, BTN3A is a key immune regulatory molecule widely expressed in cancer, and in July 2025Received orphan drug designation from the US FDA and the European Medicines Agency in the same month.

Many patients with acute myeloid leukemia cannot tolerate intensive chemotherapy and must rely on low-intensity options, which often bring limited and short-lived benefits. This high-risk, frail population continues to face significant unmet medical needs, highlighting the urgency for new therapies that can improve survival and quality of life.

Ipsen CEO David Loew said:"The acquisition of ImCheck Therapeutics provides us with an opportunity to expand our oncology portfolio and reinforce our commitment to delivering transformative therapies to those who need them most. We believe that, with the promising data from ICT01 and Ipsen's global development and commercialization expertise, we are well-positioned to initiate a Phase IIb/III trial by 2026."

Interim Oral Data from Phase I/II EVICTION Trial at the American Society of Clinical Oncology 2025 Annual Meeting (n=45) Show Highly Encouraging Responses with ICT01 in Combination with Venetoclax and Azacitidine (Ven-Aza). In this single-arm trial, treatment responses across all molecular subtypes in newly diagnosed patients, including those subtypes typically showing poor response to standard-of-care (Ven-Aza), nearly doubled compared to historical standard-of-care data. The combination of ICT01 with Ven-Aza also demonstrated good tolerability, highlighting the potential of ICT01 as a novel immunotherapy to improve outcomes for AML patients.

Pierre d'Epenoux, CEO of ImCheck Therapeutics, stated:"We are delighted to become part of Ipsen. Ipsen’s ambition for transformative care aligns with our commitment to bringing innovative treatments to patients. This deal recognizes the groundbreaking science from the French academic community. It also highlights the dedication of the ImCheck team and our partners in advancing...Incorrect EntrybutyrophilnsAnd γThe outstanding work done in understanding δT cells. Joining Ipsen will help us accelerate the registration study and commercialization of ICT01. I remain grateful to the patients and investors for their contributions to advancing ImCheck's groundbreaking science."

According to the terms of the agreement, through Ipsen SAS's wholly-owned subsidiary, shareholders of ImCheck Therapeutics will receive a cash-free and debt-free payment of 350 million euros at the closing of the transaction, along with deferred payments based on specific regulatory approvals and sales-based milestones, bringing the total potential consideration to up to 1 billion euros.

The transaction is expected to be completed by the end of the first quarter of 2026, subject to customary closing conditions, including the expiration or termination of any required regulatory and government approvals as stipulated by French and U.S. regulations.

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