Regeneron Pharmaceuticals, Inc.
Acquisitions
3
Major Deals Covered
$364M
Disclosed Deal Value
Regeneron's largest disclosed acquisition here is Checkmate Pharmaceuticals for $250M in 2022. This page covers 3 major deals from 2022 to 2024, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Checkmate Pharmaceuticals | 2022 | $250.0M | Add investigational innate immune activation work for oncology combinations. |
| Decibel Therapeutics | 2023 | $109.0M | Expand genetic-medicine and hearing-loss programs. |
| 2seventy bio platforms and pipeline rights | 2024 | $5.0M | Create Regeneron Cell Medicines and bring cell-therapy programs in-house. |
2024
$5M
Create Regeneron Cell Medicines and bring cell-therapy programs in-house.
Added personnel, infrastructure, and preclinical/clinical cell-therapy assets.
Formed Regeneron Cell Medicines and broadened research beyond antibodies.
2023
$109M
Expand genetic-medicine and hearing-loss programs.
Added DB-OTO and preclinical hearing-loss gene-therapy programs.
DB-OTO remains investigational in the Phase 1/2 CHORD trial; it is not an approved product.
2022
$250M
Add investigational innate immune activation work for oncology combinations.
Added vidutolimod and TLR9 agonist expertise.
Added vidutolimod to Regeneron's oncology combination research.
Regeneron is defending ophthalmology with EYLEA HD (8 mg aflibercept, longer dosing intervals), widening Dupixent into new Type 2 inflammatory indications such as COPD, and building oncology and hematology around Libtayo and bispecifics such as linvoseltamab and odronextamab. It is also adding modalities through gene editing with Intellia, siRNA medicines with Alnylam, gene therapy from the Decibel deal and cell therapy through Regeneron Cell Medicines.
Regeneron makes money three ways. First, it records U.S. net product sales of its own medicines, mainly EYLEA HD and EYLEA for retinal disease, Libtayo in oncology, and smaller rare-disease products. Second, it earns collaboration revenue from Sanofi on Dupixent and Kevzara: Sanofi books global sales and the two companies share profits. Third, it shares ex-U.S. EYLEA profits with Bayer, which sells the drug outside the United States. The discovery engine behind all of this is VelociSuite, including VelocImmune mice that produce fully human antibodies.
Regeneron agreed in August 2023 to acquire Decibel Therapeutics for $4.00 per share in cash (about $109 million) plus a contingent value right of up to $3.50 per share, adding hearing-loss gene therapies including investigational DB-OTO.
In April 2022, Regeneron acquired Checkmate Pharmaceuticals for $250 million in cash, adding vidutolimod, an advanced toll-like receptor 9 (TLR9) agonist that stimulates anti-tumor immune responses in melanoma and non-melanoma skin cancers.
In June 2022, Regeneron acquired Sanofi's 50% global rights to cancer immunotherapy Libtayo (cemiplimab) for $900 million upfront plus an 11% royalty on global net sales, giving Regeneron 100% worldwide commercial control and full profit rights to Libtayo.
Regeneron co-develops in-vivo CRISPR/Cas9 genome editing therapies with Intellia Therapeutics, co-funding clinical trials for NTLA-2001 (for transthyretin ATTR amyloidosis) and NTLA-2002 (for hereditary angioedema), delivering direct in-vivo genetic cures.
Beginning in 2007 and expanded over two decades, Regeneron and Sanofi maintain a premier global antibody collaboration that discovered and brought Dupixent (dupilumab) and Kevzara (sarilumab) to market, sharing billions in global operating profits.
Regeneron partners with Bayer for global commercialization of EYLEA outside the United States, with Bayer funding international regulatory submissions and commercial distribution while sharing international net profits with Regeneron.
Regeneron prioritizes organic in-house scientific discovery via its VelociSuite platform, utilizing M&A strictly for targeted technology tuck-ins (Decibel Therapeutics, Checkmate) and buying back partner royalty rights (Libtayo) that directly complement its internal pipeline.
Regeneron prioritizes internal R&D, manufacturing capacity in New York and Ireland, targeted business development, share buybacks and its quarterly dividend.
In August 2023, Regeneron acquired Decibel Therapeutics for $109 million in cash plus milestones, expanding its pipeline into restorative gene therapies for genetic hearing loss (such as DB-OTO for otoferlin gene mutations).
In April 2022, Regeneron acquired Checkmate Pharmaceuticals for approximately $250 million, securing vidutolimod, an investigational toll-like receptor 9 (TLR9) agonist that activates the innate immune system against melanoma and refractory solid tumors.
In January 2024, Regeneron acquired the research and development pipeline of cell therapy pioneer 2seventy bio, establishing "Regeneron Cell Medicines" to advance next-generation CAR-T and cell therapies for cancer.
In June 2022, Regeneron acquired Sanofi’s 50% share of oncology drug Libtayo for $900 million upfront, plus regulatory milestones and an 11% royalty on worldwide sales, giving Regeneron 100% exclusive global commercial ownership.
Regeneron partners with big pharma giants (Sanofi for immunology, Bayer for international ophthalmology, Intellia for CRISPR gene editing) to share development costs and access global sales forces, while retaining full ownership of its core science and avoiding dilutive mega-mergers.
Regeneron and Intellia Therapeutics collaborate to co-develop in vivo CRISPR/Cas9 therapies (such as nex-z for ATTR amyloidosis), combining Intellia’s CRISPR delivery with Regeneron’s antibody and genetic targets.
In 2024, Regeneron launched Regeneron Ventures with $500 million in committed capital to invest in early-stage biotechnology startups, novel therapeutic platforms, and biomedical tools.
Regeneron maintains a highly disciplined M&A approach, targeting early-stage genetic medicines, viral vector delivery innovations, and complementary oncology assets that plug directly into its VelociSuite platform.
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