Ipsen acquires Memo Therapeutics for up to $800 million

Ipsen agreed to get Swiss biotech Memo Therapeutics AG connected Wednesday for an upfront outgo of 200 cardinal euros, with further milestone-based payments that could bring the full supra 700 cardinal euros, oregon astir $800 million.

The woody centers connected potravitug, a Phase II monoclonal antibody targeting BK polyomavirus-associated nephropathy, a complication successful kidney transplant patients that tin pb to graft nonaccomplishment and transplant failure, the institution said. There are presently nary approved targeted therapies for the condition, and existent objective absorption involves reducing immunosuppressive therapy, which raises the hazard of graft rejection.

At closing, Ipsen volition manus implicit 200 cardinal euros connected a cash-and-debt-free basis, with the equilibrium structured arsenic deferred payments contingent connected hitting development, regulatory, and commercialized targets, the institution said. Closing is anticipated earlier the extremity of the 3rd quarter, pending modular regulatory and contractual sign-offs; Ipsen has already incorporated the fiscal effect into its guidance for the afloat year.

Potravitug works by blocking the BK microorganism from attaching to and entering big cells, thereby preventing viral replication, the institution said. The cause holds FDA fast-track designation, granted successful May 2023, and E.U. orphan cause designation, granted successful December 2025. Results from the Phase II SAFE KIDNEY II proceedings — the largest placebo-controlled survey successful this diligent population, with 95 patients crossed 22 sites successful the U.S. — showed that 24.4% of treated patients achieved undetectable viral levels by week 38, compared with 13.0% successful the placebo group. Biopsy-confirmed nephropathy declined from 51.2% to 31.6% successful the potravitug radical by week 20, with nary alteration successful the placebo group. No treatment-related superior adverse events were reported.

Ipsen said the proceedings results enactment initiating a pivotal Phase II/III study, called SAFE KIDNEY III, aboriginal this year.

Everything astatine Memo Therapeutics extracurricular of potravitug — its staff, the DROPZYLLA antibody find platform, and a collaboration with CSL — volition beryllium spun into a caller entity called Memorises Bio, which Memo's existing shareholders volition own.

The acquisition is Ipsen's 2nd this week. The French drugmaker agreed to get Kartos Therapeutics, a California-based institution processing a attraction for myelofibrosis, a uncommon humor cancer, for $450 cardinal upfront and up to $1.3 cardinal successful further milestone payments. Ipsen said that woody was besides expected to adjacent by the extremity of the 3rd quarter.

Ipsen banal fell 1.07% connected Wednesday.