Ipsen announced it will acquire Memo Therapeutics for about €700 million, adding potravitug, an antibody in Phase III-ready development targeting BK virus-associated infections and nephropathy in immune-compromised kidney transplant patients. Memo shareholders will receive €200 million at closing, with up to €500 million in milestone payments tied to development, regulatory, and sales outcomes. The transaction centers on potravitug, which is designed to prevent BK polyomavirus infection in transplant settings where no targeted therapies are currently approved. Ipsen expects potravitug to move into a pivotal Phase 2/3 trial later this year, following Phase 2 results showing viral load suppression and resolution of biopsy-proven BKPyV-associated nephropathy. Ipsen simultaneously signaled continued portfolio-building in rare disease, including its broader M&A pace in recent days, as the pharma looks to deepen clinical-stage assets with defined regulatory pathways.