Memo Therapeutics (Biotech): CHF 13.8 million Series B
Summary
Memo Therapeutics, an innovator in the field of antibody discovery and immune repertoire analysis, has raised CHF 13.8 million in a Series B financing round led by Swisscanto and joined by Bernina Bioinvest as well as existing shareholders investiere, Schroder Adveq, Jaquet Partners and Redalpine. The proceeds of the financing will be used primarily to advance the development of Memo Therapeutics’ lead antibody candidate (MTX-COVAB) for the treatment of COVID-19 through to Phase II clinical studies. It is a fully human, highly potent antibody isolated from clinically selected convalescent COVID-19 donors that also neutralizes all major known mutants. “Our concept to discover antibodies from convalescent human donors within 3 weeks and to develop that idea within 9 months to first-in-human has been a huge effort by the entire team. It is very satisfying to now have the financial backing required to start implementing our clinical development plan“ said Christoph Esslinger, CSO and co-founder of Memo Therapeutics.