India, July 1 -- French drugmaker Ipsen S.A. (IPSEF.PK,IPSEY,IPN.PA) announced on Wednesday that it has agreed to buy Swiss biotech Memo Therapeutics AG for more than 700 million euros including milestones, targeting potravitug, a Phase II antibody for a serious post-transplant kidney infection.
Under the deal, Ipsen will pay 200 million euros upfront on a cash and debt-free basis at the closing, with the remaining in deferred payments tied to development, regulatory and sales milestones.
The deal focuses on potravitug, a first-in-class monoclonal antibody against BK polyomavirus-associated nephropathy, or BKPyVAN, a frequent complication in kidney transplant patients that can cause graft loss. Data from Memo's Phase II SAFE KIDNEY II tri...