Ipsen said it has more acquisitions in the works after agreeing to buy Kartos Therapeutics and Memo Therapeutics in deals that could total more than $2.55 billion. The French drugmaker said the two transactions deepen its oncology, rare disease and neuroscience pipeline and still leave it with financial firepower for more M&A.
Ipsen said its acquisition spree is not over.
The French drugmaker is working on additional deals after agreeing this week to buy Kartos Therapeutics and Memo Therapeutics, and its chief business officer said the company still has “a lot of firepower left” for more transactions.
The comments add a fresh dealmaking signal to a week that already saw Ipsen commit to two biotech acquisitions designed to expand its oncology, rare disease and neuroscience pipeline.
Recent dealmaking
On June 29, Ipsen said it would buy Kartos Therapeutics for up to $1.75 billion. The deal includes $450 million upfront, with the rest tied to development and commercial milestones.
Kartos is developing navtemadlin, an experimental medicine in a rare blood cancer, and the transaction fits Ipsen’s push deeper into hemato-oncology.
Two days later, on July 1, Ipsen announced another acquisition: Memo Therapeutics. That deal could top 700 million euros, or about $799.6 million, and includes a 200 million euro initial payment plus additional milestone payments.
Memo’s lead asset is being developed for BK polyomavirus, a viral infection complication that can affect kidney transplant patients. Ipsen said the acquisition strengthens its rare-disease portfolio.
Together, the two transactions could exceed $2.55 billion if milestone payments are met.
More deals ahead
On July 3, the Wall Street Journal reported that Philippe Lopes-Fernandes, Ipsen’s chief business officer, said the company was working on more deals and still had significant financial capacity after the Kartos and Memo transactions.
That message suggests Ipsen is not treating this week’s acquisitions as a one-off expansion. Instead, the company appears to be using its balance sheet to keep building in specialty medicine areas where it sees growth potential.
Ipsen has been shifting toward oncology, rare diseases and neuroscience, and management has framed acquisitions as a way to fill portfolio gaps and support longer-term growth. The recent purchases also follow Ipsen’s prior interest in external business development, including its move on ImCheck Therapeutics.
What to watch
The next question is whether Ipsen identifies and signs another target soon, and whether it discloses more detail on its remaining cash, debt capacity or overall M&A pipeline in upcoming investor communications.
For now, the company’s message is clear: the buying spree is still underway.
Revision note
Initial automated publication.