EQT Life Sciences, the healthcare investment arm of Swedish private equity firm EQT, has exited Marseille-based biotech ImCheck Therapeutics. ImCheck, which develops immuno-oncology therapies targeting butyrophilins, a novel family of immune-regulating proteins, has agreed to be acquired by Paris-headquartered biopharmaceutical company Ipsen in a deal worth up to €1 billion.
The deal underscores growing interest in European immunotherapy innovation, driven by patent cliff pressures, favourable valuation dynamics compared to US assets, and Europe’s maturing research ecosystem, which now produces around 40% of global scientific citations.
October 23, 2025
