KURMA PARTNERS, A MEMBER OF THE EURAZEO GROUP AND FOUNDING INVESTOR OF IMCHECK THERAPEUTICS, ANNOUNCES THE SALE OF THE BIOTECH COMPANY TO IPSEN FOR UP TO €1 BILLION

• Kurma supported the creation of ImCheck in 2015 based on the scientific research of Professor Daniel Olive.
• ImCheck is developing a new generation of immunotherapy antibodies targeting various solid and hematological cancers.
• The sale price is €350 million, to which additional payments may be added depending on the achievement of key milestones, bringing the total transaction value to €1 billion.
• This transaction that follows the sale, among others, of Corlieve Therapeutics to UniQure and Amolyt Pharma to AstraZeneca confirms the success of Kurma Partners' business model in creating biotech companies and supporting them through their sale.

Kurma Partners, a member of the Eurazeo group, announces the acquisition by pharmaceutical company Ipsen of ImCheck Therapeutics, a biotechnology company that designs and develops a new generation of immunotherapy antibodies targeting various solid and hematological cancers. The sale price is €350 million, to which may be added payments contingent upon the achievement of key milestones, bringing the total transaction value to €1 billion.

Kurma supported the creation of ImCheck in 2015 based on the research of Professor Daniel Olive, Director of the Immunity and Cancer Laboratory at the Marseille Cancer Research Center (CRCM). Under the leadership of its CEO, Pierre d'Epenoux, ImCheck is developing a portfolio of next-generation antibodies, including its flagship Phase I/II program ICT01, currently being evaluated as a potential first-line treatment for acute myeloid leukemia (AML) in high-risk patients who are not eligible for existing targeted therapeutic options, as well as in a range of other oncology indications. ICT01 received orphan drug designation from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) in July 2025.

Success of Kurma Partners’ business model, biotech creator and investor

Since ImCheck was founded, Kurma and Eurazeo have participated in all financing rounds up to the €96 million Series C completed in 2022 via the Kurma Growth Opportunity Fund and various Eurazeo FCPI funds. This is the second joint success for Kurma Partners and Professor Daniel Olive, following the creation of Emergence Therapeutics and its sale to Eli Lilly in 2023.

These examples illustrate Kurma's strategy of collaborating with leading researchers and academics, while drawing on a powerful network of professionals in the biotechnology sector. By combining the best of science with experienced professionals, Kurma is successfully accelerating business growth. 

Since its inception, Kurma Partners has participated in the creation of 25 companies. These include Corlieve Therapeutics, a company specializing in rare epilepsies, sold to UniQure in 2021, and Amolyt Pharma, a company specializing in rare endocrine diseases, sold to AstraZeneca in 2024.

The transaction with IPSEN is expected to be finalized by the end of the first quarter of 2026.