An important step for Memo Therapeutics and kidney transplant recipients
We’re happy to announce that Memo Therapeutics (RACII) has closed CHF 25 million in Series C financing, led by Pureos Bioventures. We contributed to the round, alongside Swisscanto and Verve Ventures.
This funding will secure the completion of the U.S. Phase II trials of their first- and best-in-class antibody, AntiBKV, a therapy intended to neutralize BK polyomavirus (BKV) infection in kidney transplant recipients, and will also go towards Phase III study and potential market entry preparations.
Memo Therapeutics (MTx) has distinguished itself as a trailblazer in the field of antibody discovery and immune repertoire analysis, offering patients living with cancer and viral infections the chance to transform their quality of life. MTx’s innovative discovery platform uses immortal cell libraries and unique nano droplet technology to identify and isolate the most potent antibodies based on functionality, including discovering ultra-rare antibodies that competing technologies miss.
BKV infection is triggered in 40-50% of kidney transplant recipients and poses a significant threat to patients following transplantation procedures, with up to 10% of those infected experiencing nephropathy (kidney function deterioration or even failure). As the infection is a sign of over immunosuppression, current treatments focus on reducing the strength of immo-suppressant drugs, an approach which unfortunately also increases the risk of a graft rejection reaction. Currently there is no disease modifying approach available for treatment, making Memo Therapeutics’ method revolutionary, and is evidenced in the FDA’s granting Fast Track designation to AntiBKV.
Dr Jürgen Beck, Chief Medical Officer at Memo Therapeutics, said the neutralization capacity of AntiBKV could be a game-changer for patients. “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. Importantly, we will also scale up CMC manufacturing of AntiBKV to ensure we have product ready for further clinical evaluation and in anticipation of a potential launch in 2025."
Since its initial Series A financing round of CHF 2.3 million in 2015, the Swiss Biotech company has raised a total of $59.2 million over 5 rounds (excluding their latest funding round). MTx’s pipeline is diverse and includes candidate therapeutic antibodies aimed at addressing infectious diseases such as cytomegalovirus and immuno-oncology targets. It has recently established a strategic partnership with Japan’s Ono Pharmaceutical to further these interests.
We're delighted to support Memo Therapeutics' progress and congratulate the entire team on this milestone!
Read more about Memo Therapeutics technology on their website.