Ipsen to Acquire Memo Therapeutics for Over €700 Million, Gaining Phase II Anti-BK Virus Antibody Potravitug

July 1,Paris, France and Zurich, Switzerland – Ipsen and Memo Therapeutics announce that they have entered into a definitive share purchase agreement, under which Ipsen has agreed to acquire MemoTherapeuticsof all issued and outstanding shares. Expected revenueThe focus of procurement ispotravitug, this isA Phase II clinical antibody targeting BK polyomavirus (BKPyV). BK polyomavirus-associated nephropathy (BKPyVAN) is a serious and common clinical complication in kidney transplant recipients, which can lead to graft loss and transplant failure. Potravitug received Fast Track designation from the U.S. FDA in May 2023 and orphan drug designation from the European Union in December 2025.Memo Therapeutics’ investors include Ysios Capital, Kurma Partners, Pureos Bioventures, Swisscando, Vesalius Biocapital, and Adjuvant Capital.（$1.75 Billion! Ipsen Acquires Kartos Therapeutics）

Dr. Christelle Huguet, Executive Vice President and Head of R&D at Ipsen, stated:“This acquisition strengthens our commitment to delivering transformative solutions for patients with significant unmet needs. Through potravitug, we have the opportunity to add a promising first-in-class asset to our rare disease pipeline and address the significant clinical consequences of BK virus-associated nephropathy in kidney transplant recipients, where the current standard of care may compromise transplant success and outcomes.”

Potravitug is a monoclonal antibody targeting the VP1 capsid protein of the BK virus. It functions by blocking viral attachment and cellular entry, thereby preventing infection of host cells and subsequent viral replication. The Phase II SAFE Kidney II trial was the largest placebo-controlled clinical study of BKPyVAN treatment, involving 95 kidney transplant recipients across 22 sites in the United States. Topline results demonstrated that potravitug achieved superior efficacy compared to placebo at Week 20, including a ≥1-log10 reduction in viral load or undetectable levels, along with histological improvement in BKPyVAN-associated nephropathy. All data indicate that,PotravitugDemonstrates strong clinical value, showing sustained and significant antiviral effects, and reducing the incidence of BKPyVAN. By Week 38, 24.4% of treated patients had undetectable BKPyV DNAemia, compared to 13.0% in the placebo group; 40.3% and 24.7% of patients, respectively, achieved a >2-log10 reduction in viral load. Biopsy-proven BKPyVAN at Week 20 inPotravitugThe rate in the group decreased from 51.2% to 31.6%, with no change observed in the placebo group. Potravitug was well tolerated, and no treatment-related serious adverse events were reported. Following an update at last month’s European Renal Association Congress, the complete SAFE KIDNEY II dataset presented at ATC 2026 further strengthens the rationale for initiating the SAFE KIDNEY III trial later this year.Potravitugclinical evidence.

Erik van den Berg, CEO of Memo Therapeutics AG, stated:“Today marks a pivotal moment in the journey of Memo Therapeutics AG and validates years of scientific innovation. We are delighted to partner with Ipsen to advance this important drug. With its deep expertise in developing and commercializing medicines for rare diseases, Ipsen is well-positioned to ensure this breakthrough asset reaches its full potential, delivering life-changing benefits to thousands of kidney transplant patients infected with BKPyV.”

Pursuant to the terms of the agreement, shareholders of Memo Therapeutics AG will receive a cash-free, debt-free payment of €200 million at closing, along with deferred payments contingent upon the achievement of specified development, regulatory approval, and sales-based milestones, bringing the total potential consideration to over €700 million. As a condition precedent to the closing of the transaction, Memo Pharmaceutics AG andPotravitugUnrelated assets and employees will be transferred to Memories Bio, a newly established company retained by the shareholders of Memo Pharmace AG. The transaction is expected to be completed in the third quarter of 2026, subject to customary closing conditions.

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