Press Release April 19, 2022

Regeneron To Acquire Checkmate Pharmaceuticals and Its Investigational Immune Activator

The M&A and Life Sciences teams advised Checkmate Pharmaceuticals, Inc. (NASDAQ: CMPI) on its definitive agreement to be acquired by Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) at an all-cash price of $10.50 per share of Checkmate common stock. The proposed acquisition values Checkmate at a total equity value of approximately $250 million.

Checkmate Pharmaceuticals is a clinical stage biotechnology company focused on developing its proprietary technology to harness the power of the immune system to combat cancer. Checkmate Pharmaceuticals’ product candidate, vidutolimod (CMP-001), is an advanced generation Toll-like receptor 9 (TLR9) agonist, delivered as a biologic virus-like particle utilizing a CpG-A oligodeoxynucleotide as a key component, designed to trigger the body’s innate immune system to attack tumors in combination with other therapies.

The Goodwin team was led by The deal team consisted of Stuart Cable, Rob Masella, Andrew Goodman, Tevia Pollard, Josh Tarr, Adanna Uwazurike, Patrick C. O’Brien (Public M&A); Mitch Bloom, Benjamin Marsh, Janet Hsueh, Katie Hand, Stacey Harlow Buttrey and Chris Guerin (Corporate/ongoing); Arman Oruc, Simone Waterbury, Kirby Lewis, Elliot Silver and Michael Casaburi (Antitrust); Carl Metzger and Brian Mukherjee (D&O Insurance); Sarah Bock, Monica Patel, Andre Amorim and Chris Jones (Executive Compensation and Benefits); Jennifer Fay and Brendan Lally-McGurl (Employment); Julie Tibbets and Elizabeth Mulkey (FDA); Roger Cohen and Andrew Hess (Healthcare); Daniel S. Karelitz and Gregg Coughlin (Tax); Olivia D. Uitto (Intellectual Property); Deborah S. Birnbach and Jordan Benson (Litigation); Nathan Brodeur (Environmental); Jacqueline Klosek (Privacy); and Jacob Osborn and Carrie Miller (Global Trade).

For more details, read the press release and articles in Fierce Biotech and MarketWatch.