United Therapeutics agreed to acquire Thymmune Therapeutics for $300 million in a regenerative medicine deal aimed at restoring immune function by generating thymic cells in vivo. The transaction includes $140 million upfront and up to $160 million in additional milestones tied to clinical and regulatory progress. Thymmune’s platform converts induced pluripotent stem cells into thymic cells that mature inside the body, with the lead program THY-100 in preclinical development for congenital athymia, an ultra-rare condition where infants are born without a functioning thymus. In animal studies, THY-100 was reported to form a “neo-thymus” supporting T-cell development. United Therapeutics said the acquisition complements its broader mission to expand organ supply alternatives and extends its immunomodulatory therapeutics strategy, including its UThymoKidney clinical program. The deal reflects continued M&A focus on regenerative and cell-based approaches that can address foundational biology rather than symptom management.