HomeSwitzerlandMemo Therapeutics Raises CHF 20M; Increases Series C to CHF 45M

Memo Therapeutics Raises CHF 20M; Increases Series C to CHF 45M

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Memo Therapeutics, a Schlieren, Zurich, Switzerland-based late-stage biotech company developing a BKV-neutralizing antibody for BKV infection in kidney transplantation, raised additional CHF 20M bringing the total amount of its Series C to CHF 45M.

New investors Ysios Capital and Kurma Partners participated in the extension round, joining 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. Thomas Harth, Principal at Ysios Capital and Hadrien Bouchez, Partner at Kurma Partners will join the Memo Therapeutics Board of Directors.

The company intends to use the funds to bolster the clinical advancement of its lead asset, AntiBKV, expanding the Phase II trial with a dose evaluation extension.

Led by CEO Erik van den Berg, Memo Therapeutics is a late-stage biotech company developing therapeutic antibodies for patients with viral infections and cancer. MTx’s lead program, AntiBKV, is a neutralizing antibody to treat BK virus infection in kidney transplant recipients. This infection can lead to nephropathy, loss of kidney function, as well as organ failure and rejection. MTx’s pipeline consists of additional candidate therapeutic antibodies focusing on infectious diseases, such as cytomegalovirus (“CMV”), immuno-oncology targets alone and in partnership with Ono Pharmaceutical.

Commenting on the news, Erik van den Berg said: “This financing provides further external endorsement of the potential of our highly potent anti-BK virus mAb and our clinical strategy to bring it to patients as quickly as possible. There are more than 100,000 kidney transplants worldwide each year and 20,000 of these are at risk from developing BK virus associated nephropathy. With no disease modifying therapies available, there is an urgent need for a treatment. With FDA fast track status already obtained for the product, we look forward to rapidly progressing the development of AntiBKV.”

FinSMEs

07/05/2024