Memo Therapeutics Raises CHF 25 Million Series C Financing

AntiBKV is intended to neutralize BK polyomavirus (“BKV”) infection in kidney transplant recipients. 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 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 planned for 2025. In addition, Memo Therapeutics (MTx) will use the funding to advance its existing antibody pipeline.

“With these new funds, we are in an optimal position to complete a multi-center Phase II study with AntiBKV, a treatment option that could dramatically improve the lives of renal transplant patients. On behalf of MTx, I’d like to welcome our new investor, Pureos Bioventures. We are also fortunate to have the long-term support of our existing investors who share our goal to develop best-in-class therapeutic antibodies for difficult to treat diseases”, said Elias Papatheodorou, Chairman of MTx’s Board of Directors.

“MTx has made great progress in translating its antibody discovery platform into promising clinical candidates. In particular, AntiBKV has the potential to transform the lives of patients, who currently have no other therapeutic options,” said Veronica Gambillara Fonck, Partner at Pureos Bioventures, who has been appointed to the Board in conjunction with the financing. Existing investors Swisscanto, Vesalius Biocapital, Adjuvant Capital, Verve Ventures, Schroders Capital, GF Group, Fresenius Medical Care Ventures and Redalpine joined in the round.

Apart from AntiBKV MTx’s pipeline consists of candidate therapeutic antibodies focusing on infectious diseases, such as cytomegalovirus (“CMV”), immuno-oncology targets as well as a partnership with Ono Pharmaceutical.

(Press release / SK)