M&A Deal Summary

Regeneron Pharmaceuticals Acquires Checkmate Pharmaceuticals

On April 19, 2022, Regeneron Pharmaceuticals acquired life science company Checkmate Pharmaceuticals from Eight Roads for 250M USD

Acquisition Highlights
  • This is Regeneron Pharmaceuticals’ 1st transaction in the Life Science sector.
  • This is Regeneron Pharmaceuticals’ largest (disclosed) transaction.
  • This is Regeneron Pharmaceuticals’ 1st transaction in the United States.
  • This is Regeneron Pharmaceuticals’ 1st transaction in Massachusetts.

M&A Deal Summary

Date 2022-04-19
Target Checkmate Pharmaceuticals
Sector Life Science
Buyer(s) Regeneron Pharmaceuticals
Sellers(s) Eight Roads
Deal Type Add-on Acquisition
Deal Value 250M USD
Advisor(s) Centerview Partners (Financial)
Goodwin Procter (Legal)

Target

Checkmate Pharmaceuticals

Cambridge, Massachusetts, United States
Checkmate Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the activation of innate immunity to treat cancer. Checkmate Pharmaceuticals was formed in 2015 and is based in Cambridge, Massachusetts.

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Buyer(S) 1

Buyer

Regeneron Pharmaceuticals

Tarrytown, New York, United States

Category Company
Founded 1988
Sector Life Science
Employees13,677
Revenue 13.1B USD (2023)
DESCRIPTION

Regeneron Pharmaceuticals is a biopharmaceutical company based that discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions. Regeneron markets medicines for eye diseases, colorectal cancer, and a rare inflammatory condition, and has product candidates in development in other areas of high unmet medical need, including hypercholesterolemia, oncology, rheumatoid arthritis, asthma, and atopic dermatitis. Regeneron Pharmaceuticals was founded in 1988 and is based in Tarrytown, New York.


DEAL STATS #
Overall 1 of 2
Sector (Life Science) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 2
Country (United States) 1 of 2
Year (2022) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-09 Decibel

Boston, Massachusetts, United States

Decibel is a clinical-stage biotechnology company dedicated to discovering and developing transformative treatments to restore and improve hearing and balance. It has built a proprietary platform that integrates single-cell genomics and bioinformatic analyses, precision gene therapy technologies, and expertise in inner ear biology. The company is leveraging its platform to advance gene therapies designed to selectively replace genes for the treatment of congenital, monogenic hearing loss and to regenerate inner ear hair cells for the treatment of acquired hearing and balance disorders. Its pipeline, including its lead gene therapy program, DB-OTO, to treat congenital, monogenic hearing loss, is designed to deliver on our vision of a world in which the privileges of hearing and balance are available to all. Decibel was founded in 2013 and is based in Boston, Massachusetts.

Buy $109M

Seller(S) 1

SELLER
DESCRIPTION

Eight Roads is a private investment firm focused on a variety of investment opportunities across the US, Europe, and Asia. The Firm is divided into several investment strategies including venture, principal investing, and real estate. Within the principal investments group, Eight Roads backs established growth businesses with long-term capital. Eight Roads does not have any sector preferences, but has experience in fintech, business services, and healthcare. Eight Roads is based in London.


DEAL STATS #
Overall 94 of 97
Sector (Life Science) 48 of 49
Type (Add-on Acquisition) 42 of 44
State (Massachusetts) 25 of 26
Country (United States) 58 of 60
Year (2022) 2 of 2
Size (of disclosed) 11 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-12 Noogata

New York, New York, United States

Noogata provides no-code artificial intelligence (AI) for enterprises. Its AI platform is built for business users who need to turn their data into actionable insights quickly and easily to drive opportunities, growth, and profit. Noogata delivers the benefits of best-in-class AI for maximum business impact without the complexity and costs of having to develop or maintain your own models. Noogata was founded in 2019 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-27 Reveal

Paris, France

Reveal is the free platform for Partnership, Marketing, and Sales teams to generate revenue through their ecosystem. Reveal is based in Paris, France.

Buy -