In an attempt to expand its immuno-oncology portfolio, Regeneron has agreed to acquire Checkmate Pharmaceuticals for US$10.50 per share, representing a total equity value of approximately US$250 M. With the deal, Regeneron gains access to Checkmate’s investigational asset vidutolimod, an immune activator that stimulates T cells to attack cancerous tumours. The drug is currently being studied in combination and as a monotherapy in indications such as melanoma, non-melanoma skin cancers and head and neck cancers. The acquisition marks the first M&A deal for Regeneron and complements its existing oncology portfolio which includes marketed PD-1 inhibitor, Libtayo®.