Ipsen to acquire Memo Therapeutics in deal worth over €700M (IPSEY:OTCMKTS)

Ipsen agreed to acquire Memo Therapeutics for more than €700 million, adding a late-stage therapy for BK polyomavirus in kidney transplant recipients to its rare disease pipeline.

Memo is developing a bispecific antibody designed to clear the virus without harming the kidney graft. The therapy targets a high unmet need in immunosuppressed patients.

The upfront consideration is over €700 million, with additional milestone payments tied to regulatory and commercial milestones. Ipsen plans to fund the acquisition from its cash and debt.

For Ipsen, the acquisition builds on its strategy of acquiring rare disease assets with clinical-stage programs. The company's rare disease unit already markets drugs for endocrine and metabolic disorders; the Memo deal adds a new therapeutic area in transplant medicine.

The transaction is expected to close in the second half of 2026, subject to regulatory approvals and shareholder votes. Memo's lead candidate, a bispecific antibody for BK polyomavirus, is one of the more advanced programs in a growing field of transplant-focused therapies.