Memo Therapeutics AG increases Series C financing to CHF45m
Swiss antibody specialist Memo Therapeutics AG has added CHF20m to its Series C financing, bringing the total amount raised in the funding round to CHF 45 million.
New investors Ysios Capital and Kurma Partners joined existing Series C round investors including Pureos Bioventures, Swisscanto, Vesalius Biocapital, Adjuvant Capital, Verve Ventures, Schroders Capital, GF Group, Fresenius Medical Care Ventures and Red Alpine.
The new funding will be used to bolster the clinical advancement of the company’s lead asset, AntiBKV, expanding the Phase II trial with a dose evaluation extension to be the largest BK viremia therapeutic study ever conducted in kidney transplant recipients. The disease represents a potential market in excess of $1bn and is caused by the BK virus, which can become reactivated in immunosuppressed kidney transplant patients leading to severe complications. Initial data from the Phase II trial is expected in the first half of 2025. The funding will further support the development of Memo Therapeutics’ pipeline by leveraging its B-cell screening platform to select best-in-class humanized antibodies in other viral infections and oncology.
Alongside AntiBKV, Memo Therapeutics is developing a panel of pre-clinical assets in cancer and viral infections. These are based on the ability of the company’s antibody discovery platform to interrogate the antibodyomes of elite controllers of infection and cancer.
