ImCheck Therapeutics

Established: 2015

Country: France

Region: Provence-Alpes-Côte d'Azur

Investors: Andera Partners (BioDiscovery 6), Earlybird, Kurma Partners (BioFund + Eurazeo vehicles), Bpifrance (InnoBio 2 + Large Venture), Pfizer Ventures, Gimv, Pureos Bioventures, EQT Life Sciences, Wellington Partners, Invus, Agent Capital, Boehringer Ingelheim Venture Fund, Alexandria Venture Investments

ImCheck Therapeutics is a French clinical-stage biotechnology company founded in 2015 and headquartered in Marseille. The company pioneered a next-generation approach to immuno-oncology by developing first-in-class antibodies that activate γδ T cells (Vγ9Vδ2 subset), a distinct arm of the immune system largely overlooked by existing cancer therapies.

ImCheck's lead clinical asset, ICT01, is a first-in-class anti-BTN3A monoclonal antibody evaluated in the Phase I/II EVICTION trial in elderly patients with acute myeloid leukemia (AML) ineligible for intensive chemotherapy, as well as in certain solid tumors. ICT01 demonstrated highly encouraging efficacy signals, with response rates nearly doubling versus historical standard of care in newly diagnosed AML and received both FDA and EMA Orphan Drug Designations in July 2025. Results were presented at ASCO 2025 and ASH 2025. On 22 October 2025, Ipsen announced the acquisition of ImCheck Therapeutics for up to €1 billion, a landmark exit for the French biotech ecosystem and a powerful demonstration of how European venture capital can translate academic discovery into transformative medicines for patients.

Pierre d'Epenoux

CEO - ImCheck Therapeutics

We are thrilled to become part of Ipsen, a company whose ambition for transformative care matches our commitment to bringing innovative treatments to patients. This transaction recognizes groundbreaking science originating from French academia and highlights the exceptional work achieved to advance the understanding of butyrophilins and gamma delta T cells. Joining Ipsen will help us accelerate ICT01 toward registrational studies and commercialization.

~€1bn

Total potential acquisition value by Ipsen (upfront + milestones), one of the largest European biotech transactions of 2025

Orphan Drug Designations obtained: FDA + EMA (July 2025)

€155mn+

Total capital raised from venture capital across Series A, B & C

Key achievements

ICT01: first-in-class anti-BTN3A antibody — novel mechanism of action activating the Vγ9Vδ2 subset of γδ T cells, an underexplored arm of anti-tumor immunity
Phase I/II EVICTION trial: response rate nearly doubled vs. historical standard of care in newly diagnosed AML patients ineligible for intensive chemotherapy
FDA Fast Track Designation (September 2024) for ICT01 in combination with azacitidine and venetoclax in first-line AML patients aged 75+ or with comorbidities precluding intensive chemotherapy — enabling expedited FDA review and more frequent regulatory interactions
Dual Orphan Drug Designation: FDA + EMA (July 2025), recognizing the high unmet medical need in acute myeloid leukemia
Breakthrough clinical data at ASH 2025 (December 2025): among 57 enrolled patients, >90% of patients treated with ICT01 (10mg) achieved complete remission by end of Cycle 2, demonstrating rapid and deep responses; 12-month overall survival rate of 62%, numerically higher than the ~54% observed with standard of care alone in recent Phase 3 trials
Acquired by Ipsen for up to €1 billion (signed October 2025, closed Q1 2026), one of the largest European biotech transactions of 2025
Phase IIb/III planned within Ipsen in 2026, targeting a potential registration in AML

Funding history

Series A: ~$21.5M (2017) — Kurma Partners (BioFund, Eurazeo), Boehringer Ingelheim Venture Fund, Wellington Partners, Agent Capital
Series B: €54M / $64M (2020) — Pfizer Ventures, Gimv, Pureos Bioventures and others
Series C: €96M (June 2022) — co-led by Earlybird and Andera Partners (BioDiscovery 6), alongside Bpifrance (InnoBio 2 + Large Venture), Pfizer Ventures, Gimv, EQT Life Sciences, Invus, Alexandria Venture Investments

Employment impact

More than 50 employees at end of 2025 (vs. 40 in April 2022 and 4 in 2018), reflecting the growth supported by the VC-backed financings and the acceleration of ImCheck's clinical and operational teams in Marseille
Series C financing (€96M, June 2022) enabled the company to expand its clinical, regulatory and scientific teams to execute the EVICTION Phase I/II program across multiple European and US trial sites
Multi-disciplinary team combining drug discovery, clinical development, regulatory affairs, immunology and oncology expertise, anchored in Marseille's growing life sciences cluster
Active contributor to the French biotech ecosystem: 6 consecutive years in the French Tech 120 program and selected as a laureate of the French Tech 2030 program (June 2023), recognizing its role as a national champion in healthcare innovation
France 2030 grant of €20.18M (August 2024) recognized ImCheck's contribution to strategic French biotech priorities and non-dilutively supported team and program growth
Acquired by Ipsen, a global biopharmaceutical company present in 40+ countries, ensuring the continuation of the Imcheck’s operations and the acceleration of ICT01's clinical development program and preserving the scientific legacy of the Marseille team

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