Ipsen has announced an agreement to acquire Swiss biotechnology company Memo Therapeutics, with the total deal value potentially exceeding €700 million (approximately $799.6 million). The acquisition is aimed at expanding the French pharmaceutical company's pipeline of treatments for rare diseases.
This marks Ipsen's second acquisition deal this week. The company previously finalized an acquisition of Kato Therapeutics, which is developing a treatment for a rare blood cancer, in a transaction with a potential value of up to $1.75 billion.
Ipsen stated that the acquisition will involve an upfront payment of €200 million, with additional deferred payments contingent on meeting specific milestones related to drug development progress, regulatory approvals, and product sales performance. The total transaction value has the potential to surpass €700 million.
The central asset of this acquisition is Memo's investigational drug, Portevituzumab, which is designed to treat BK polyomavirus-associated nephropathy—a common complication in kidney transplant patients. This drug received Fast Track designation from the U.S. Food and Drug Administration in 2023 and is scheduled to enter mid-to-late stage clinical trials in the second half of this year.
Ipsen indicated that Memo's other assets, which are unrelated to Portevituzumab, along with associated employees, will be spun off into a newly established entity named Memorises Bio, to be held by the original company's shareholders.
Ipsen stated that, subject to the fulfillment of customary closing conditions, the acquisition is expected to be completed in the third quarter of this year. The company has already factored the anticipated impacts of this transaction into its full-year financial performance expectations.
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