Memo Therapeutics receives CHF14M in Series B financing round for COVID-19 antibody development

06.11.2020 11:10, Jonatan Masseus

Schlieren-based Memo Therapeutics is on the hunt for clinical development of potent antibodies for the immunotherapy of COVID-19 and for BK virus infection in kidney transplant patients. Financing round was led by Swisscanto Invest followed by BERNINA BioInvest, Investiere, Schroder Adveq, Jaquet Partners and Redalpine.

Memo Therapeutics are considered innovators in the field of antibody discovery and immune repertoire analysis. By exploiting the power of our microfluidic single-cell molecular cloning and screening technologies, they engage in antibody discovery across species and indications for proprietary and partnered projects.

The financing will be used to foremost advance the development of MTX-COVAB, Memo’s lead antibody candidate for the treatment of COVID-19 through to Phase II clinical studies, including the production of GMP material. The company also intends to use the proceeds to advance clinical development to Phase II of its neutralizing antibody MTX-005, directed against BK virus infection in renal transplant patients, which poses a series of threats to transplant success. In addition, the company expects to develop additional anti-infectious disease candidate antibodies and expand corporate partnering activities with the funding

Memo Therapeutics participated in the TOP 100 Swiss Startup Award 2015, 2016, and 2017 and this year listed as a TOP 100 Scale-Up Start-Up.