French biotech company Ipsen EURONEXT:IPN will buy Switzerland-based Memo Therapeutics to add potravitug, a Phase II clinical-stage antibody targeting BK polyomavirus, to its portfolio, the company said on Wednesday.

The deal is valued at €200 million ($228.16 million) upfront, with the potential to exceed €700 million through additional milestone payments, and is expected to close in the third quarter of 2026.

($1 = 0.8766 euros)