LONDON: Schroders Capital Global Innovation Trust plc announced its follow-on investment in Memo Therapeutics AG, a late clinical-stage biotech company based in Switzerland.
The Company invested CHF 0.5 million (£0.4 million) in Memo’s Series C extension financing round, which raised CHF 20 million (£17 million) and was co-led by new investors, Ysios Capital and Kurma Partners. Existing investors Verve Ventures, Fresenius Medical Care Ventures, Vesalius Biocapital, Adjuvant Capital, and Pureos Bioventures also participated in the round.
This investment follows the Company’s initial CHF 0.9 million (£0.8 million) investment in Memo Therapeutics’ CHF 25 million (£22 million) Series C round in Q4 2023. The Company’s total investment in Memo Therapeutics is now CHF 1.4 million (£1.2 million).
Memo Therapeutics AG is dedicated to the development of therapeutic antibodies for patients with viral infections and cancer. It employs a human antibody engine, capable of identifying and isolating potent and rare antibodies created by the body’s natural immune response and transforms them into novel medicines.
The new funding will be used to support the development of Memo’s lead candidate, AntiBKV, in Phase II clinical trials. Memo plans to expand the Phase II trial by evaluating different doses of the antibody. This expanded trial will be the largest study ever conducted for treating BK virus infection in kidney transplant recipients.
BK virus can cause serious complications in patients who have received a kidney transplant and are taking medication to suppress their immune system. Memo Therapeutics AG expects to see initial results from the Phase II trial in the first half of 2025.
This investment aligns with the Company’s private equity strategy focused on supporting innovative life sciences companies in the clinical or near-clinical stage.
Schroders Capital Global Innovation Trust makes investment in Memo Therapeutics