Ipsen Acquires Memo Therapeutics in Deal Worth Up to €700 Million, Validating Antibody Discovery Platform
Key Insights
Ipsen SA (search) agrees to acquire Memo Therapeutics AG for an initial €200 million, with total potential consideration reaching €700 million including deferred payments.
Schroders Capital Global Innovation Trust, an early investor in Memo Therapeutics, stands to receive up to £6.7 million from the transaction.
The deal is expected to close in the third quarter and validates Memo's antibody discovery platform and clinical-stage pipeline.
French biopharmaceutical company Ipsen SA (search) has struck a deal to acquire biotechnology firm Memo Therapeutics AG for an initial €200 million, with the total transaction value potentially reaching €700 million when deferred considerations are included, according to an announcement from London-listed Schroders Capital Global Innovation Trust PLC.
Schroders Capital Global Innovation Trust, an investment trust currently in managed wind-down, is an investor in Memo Therapeutics, having first invested £1.2 million in the Swiss-based biotechnology company in October 2023. The trust stands to receive £2.1 million from the upfront consideration, with the potential to net £6.7 million if all deferred consideration milestones are met.
"Schroders Capital was an early investor in Memo and supported the company's development of its antibody discovery platform and clinical-stage pipeline. The proposed transaction represents a further positive validation of biotechnology innovation within the company's portfolio," Schroders Capital Global stated.
The acquisition is expected to close in the third quarter of the year. Memo Therapeutics specializes in antibody discovery and has built a clinical-stage pipeline that attracted Ipsen's strategic interest.
For Schroders Capital Global Innovation Trust, the transaction aligns with its managed wind-down objectives. The upfront proceeds from the deal will contribute to an increased planned capital return to shareholders. The trust has revised its capital return target upward to £23.5 million less costs, up from the previously announced £20 million less costs.
The deal underscores continued M&A activity in the biotechnology sector, with larger pharmaceutical companies seeking to acquire innovative platform technologies and clinical-stage assets to bolster their pipelines.