India, March 9 -- Sun Pharmaceutical Industries Limited agreed to acquire Checkpoint Therapeutics Inc. (CKPT), an immunotherapy and targeted oncology company.
As per the deal, Checkpoint stockholders will receive, for each share of common stock they hold, an upfront cash payment of $4.10, without interest, and a non-transferable contingent value right (CVR) entitling the stockholder to receive up to an additional $0.70 in cash, without interest, if cosibelimab is approved prior to certain deadlines in the European Union pursuant to the centralized approval procedure or in Germany, France, Italy, Spain or the United Kingdom.
The cash payment of $4.10 represents aggregate upfront consideration of up to $355 million. It represents a premium ...