Memo Therapeutics, a Schlieren / Zurich, Switzerland-based late-stage biotech company, raised CHF 25M in Series C funding.
The round was led by Pureos Bioventures, with participation from xisting investors Swisscanto, Vesalius Biocapital, Adjuvant Capital, Verve Ventures, Schroders Capital, GF Group, Fresenius Medical Care Ventures and Red Alpine.
The company intends to use the funds to complete U.S. Phase II clinical development of its antibody, AntiBKV, intended to neutralize BK polyomavirus (“BKV”) infection in kidney transplant recipients. With Phase II clinical data anticipated in 2024, the proceeds will also be used to prepare for a scale up of CMC manufacturing of AntiBKV in view of the Phase III study and potential market entry. In addition, MTx will use the funding to advance its existing antibody pipeline.
Memo Therapeutics is a late-stage biotech company developing therapeutic antibodies for patients with virus infections and cancer. Its lead program, AntiBKV, aims to become an effective and safe neutralizing antibody to treat BK virus infection in kidney transplant recipients. This infection can lead to loss of kidney function, as well as organ failure and rejection. Its pipeline consists of additional candidate therapeutic antibodies focusing on infectious diseases, such as cytomegalovirus (“CMV”), immuno-oncology targets as well as a partnership with Ono Pharmaceutical.
FinSMEs
02/11/2023