The biotech company Memo Therapeutics AG (MTx) from Schlieren in the canton of Zurich has announced the closing of a Series C financing worth 25 million Swiss francs. The round was led by Pureos Bioventures from Pfäffikon in the canton of Schwyz. Existing investors including Swisscanto, Vesalius Biocapital, Adjuvant Capital, Verve Ventures, Schroders Capital, GF Group, Fresenius Medical Care Ventures and Red Alpine also participated, according to the statement. The funding will be used to complete Phase II clinical trials in the US for the antibody AntiBKV.
AntiBKV is designed to neutralize BK polyomavirus (BKV) infections in kidney transplant recipients. BKV infections after transplantation have serious negative effects on graft function and patient survival, according to the statement. Phase II clinical data are expected in 2024.
“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,” commented Elias Papatheodorou, Chairman of MTx’s Board of Directors. By scaling up production, the aim is “to ensure we have product ready for further clinical evaluation and in anticipation of a potential launch in 2025”, he continued.
“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.
Memo Therapeutics is a spin-off from the Federal Institute of Technology in Zurich (ETH). It is headquartered in the Bio-Technopark Schlieren-Zurich. ce/gba
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