Checkpoint, based in Waltham, MA, is focused on developing novel treatments for patients with solid tumor cancers and has received approval from the US Food & Drug Administration (FDA) for Unloxcyt (cosibelimab-ipdl) for the treatment of adults with metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC who are not candidates for curative surgery or curative radiation.

Dilip Shanghvi, chairman and managing director of Sun Pharma, said: “Combining Unloxcyt, an FDA-approved anti-PD-L1 treatment for advanced cutaneous squamous cell carcinoma, with Sun Pharma’s global presence means patients with cSCC may soon have access to an important, new treatment option. The acquisition further bolsters our innovative portfolio in onco-derm therapy.”

“I am proud of the dedication and passion of our team at Checkpoint that allowed us to achieve the first and only FDA-approved anti-PD-L1 treatment for patients with advanced cSCC, and we are excited to enter this transaction with Sun Pharma as the next step to bringing Unloxcyt to cSCC patients in need of a differentiated immunotherapy treatment option,” said James Oliviero, CEO of Checkpoint. “Sun Pharma is aligned with Checkpoint’s commitment to improving the lives of skin cancer patients, and I believe this transaction will maximize value for our stockholders and provide accelerated access to Unloxcyt in the United States, Europe and other markets worldwide.”

Upon completion of the transaction, Sun Pharma will acquire all outstanding shares of Checkpoint. Stockholders will also receive a contingent value right for up to $0.70 per share on achievement of a milestone.