Memo Therapeutics AG raises CHF25m

The CHF25m Series C round of Schlieren-based Memo Therapeutics AG was led by Pureos Bioventures. Existing investors Swisscanto, Vesalius Biocapital, Adjuvant Capital, Verve Ventures, Schroders Capital, GF Group, Fresenius Medical Care Ventures and Red Alpine joined in the round.

Memo Therapeutics said it will use the proceeds to complete an ongoing multi-centre Phase II trial in the US of its first-in-class antibody, Anti-BKV, aimed at neutralising infections of kidney transplants with the BK polyomavirus (BKV). BKV infection poses a significant threat following the transplantation procedure, with serious adverse effects on graft function and ultimately patient survival. With Phase II clinical data anticipated in 2024, the proceeds will further be used to scale up CMC manufacturing of Anti-BKV for Phase III study supply and potential market entry. In addition, Memo Therapeutics will use the funding to advance its antibody pipeline.
 
Memo Therapeutics AG  is a developer of therapeutic antibodies targeting virus infections and cancer. The company’s lead program, Anti-BKV, targets BK virus infection in kidney transplant recipients, which can lead to loss of kidney function, as well as organ failure and rejection. Memo Therapeutics’ pipeline includes candidate therapeutic antibodies targeting the cytomegalovirus, and immuno-oncology targets.