Memo Therapeutics raises $27.7 million Series C to develop antibody treatment for viral infection
With the round in hand, the firm plans to scale up the manufacturing of its lead candidate AntiBKV ready for phase 3 development and potential commercialization for the treatment of BK polyomavirus (BKV) infection in kidney transplant recipients. Additionally, the proceeds will be deployed to advance other programs in MTx’s pipeline.
The round was led by Pureos Bioventures with participation from existing investors including Swisscanto, Vesalius Biocapital and more.
“MTx has made great progress in translating its antibody discovery platform into promising clinical candidates,” said Veronica Gambillara Fonck, Partner at Pureos Bioventures, in a public statement.
“In particular, AntiBKV has the potential to transform the lives of patients, who currently have no other therapeutic options.”
BKV usually lies dormant in healthy people as the immune system protects from the virus. However, it can be a threat in patients receiving kidney transplantation because they receive immunosuppressants to prevent rejection of the transplant. In severe cases, the infection can cause nephropathy and loss of the graft.
AntiBKV is designed to neutralize the virus and treat the infection in these patients. MTx received Fast Track designation from the U.S. Food and Drug Administration (FDA) earlier this year and clinical data from the phase 2 trial are expected next year.
The rest of MTx’s pipeline is in preclinical development. The most advanced of these is a treatment for cytomegalovirus. The company is also developing an immuno-oncology program in collaboration with the Japanese company Ono Pharmaceutical.
MTx closed a Series B round in February 2022 with CHF 37 million ($41 million) led by Swisscanto Invest.
There are other attempts to develop effective treatments for BKV infection. For example, Vera Therapeutics is testing its own antibody treatment in phase 2 and AlloVir has a multi-virus-specific T cell therapy in clinical development.
