Memo Therapeutics boosts Series C Financing to CHF 45 million, advancing antibody development against BKV infection

07.05.2024 15:57, Rita Longobardi

Memo Therapeutics, a leading biotech company focused on fighting BKV infection in kidney transplant patients, announced an extension of its Series C Financing, raising an additional CHF 20 million. This achievement brings the total funding secured in this round to CHF 45 million, further solidifying Memo's position to advance its pipeline, notably its lead asset—AntiBKV antibody.

BK viremia represents a potential market of over USD 1 billion and is caused by the BK virus, which can become reactivated in immunosuppressed kidney transplant patients leading to severe complications. The new CHF 20 million funding—part of an extension of Memo's Series C financing which brings the total amount raised to CHF 45 million—will be employed to support the clinical advancement of the company's lead asset—AntiBKV—expanding the Phase II trial with a dose evaluation extension to be the largest BK viremia therapeutic study ever conducted in kidney transplant recipients. Initial data from the Phase II trial is expected in the first half of 2025.

The funding will further support the development of MTx’s pipeline by leveraging its B-cell screening platform to select best-in-class humanized antibodies in other viral infections and oncology.

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 Redalpine.

Memo Therapeutics was ranked among the TOP 100 Swiss Startups from 2015 to 2017 as well as the TOP 100 Scale-ups from 2019 to 2022.

“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. We look forward to rapidly progressing the development of AntiBKV,” stated Erik van den Berg, CEO of Memo Therapeutics.

Christoph Esslinger (Founder and CSO), Lars Spenger (CFO), and Jürgen Beck (CMO)