Eurazeo: Kurma Announces the Sale of Memo Therapeutics to Ipsen for Over €700M Potential
Kurma Partners, a member of the Eurazeo group, announces the planned acquisition of Memo Therapeutics AG by Ipsen. The transaction includes an initial payment of €200 million on a cash-free, debt-free basis, with additional deferred payments linked to development milestones, regulatory approval, and commercial performance, potentially exceeding a total consideration of €700 million. The completion is expected in the third quarter of 2026, subject to customary conditions.
Acquisition Focused on Potravitug
The acquisition planned by Ipsen focuses on potravitug, a phase II clinical-stage antibody targeting the BK Polyomavirus (BKPyV). BK Polyomavirus-associated nephropathy is a severe and common clinical complication in patients who have undergone kidney transplantation, potentially leading to graft loss and transplant failure. Potravitug received 'Fast Track' designation from the US Food and Drug Administration in May 2023, and orphan drug designation in the European Union in December 2025.
€200M at Closing and Conditional Payments
Under the terms of the agreement, shareholders of Memo Therapeutics AG will receive a payment of €200 million at the transaction's closing, on a 'cash-free, debt-free' basis. They may also receive deferred payments conditioned on reaching specific development milestones, regulatory approvals, and commercial performance, which could bring the total consideration beyond €700 million.
Assets Unrelated to Potravitug Isolated in Memorises Bio
As a precondition to finalizing the transaction, the assets and employees of Memo Therapeutics AG not related to potravitug will be transferred to a newly created company, Memorises Bio, which will remain owned by the shareholders of Memo Therapeutics AG. The completion of the transaction is expected in the third quarter of 2026, subject to the fulfillment of customary closing conditions.
