Sun Pharmaceutical Industries—controlled by Indian billionaire Dilip Shanghvi—has agreed to buy U.S.-based immunotherapy and oncology company Checkpoint Therapeutics for $355 million to bolster the Mumbai-based company’s drug portfolio.

India's Sun Pharmaceutical Industries said on Monday it will acquire Checkpoint Therapeutics, a U.S.-based immunotherapy and targeted oncology company, for $355 million. The deal is in line with Sun Pharma's active push in recent years to expand its oncology and immunotherapy portfolio through several acquisitions and collaborations.

Three months after an FDA approval for cancer immunotherapy Unloxcyt, Checkpoint Therapeutics has found a buyer. | Three months after an FDA approval for cancer immunotherapy Unloxcyt, Checkpoint Therapeutics has found a buyer.