Ysios Capital, member of CataloniaBio & HealthTech, has announced its participation in the Swiss company MEMO Therapeutics funding round expansion of 20 million Swiss Francs (€20.5M).
The inclusion of Ysios Capital and Kurma Partners, along with contributions from existing investors, raises the total of Series C to 45 million Swiss Francs. This round was led by Pureos Bio in November 2023 and included additional participation from Swisscanto, Vesalius Biocapital, Adjuvant Capital, Verve Ventures, Schroders Capital, GF Group, Fresenius Medical Care Ventures, and Red Alpine, among others.
This capital increase will enable Memo to expand and advance in the clinical development of Phase II of its main asset, AntiBKV, aimed at neutralizing infection by the BK polyomavirus ("BKV") in kidney transplant recipients. This disease represents a potential market of over $1 billion and is caused by the BK virus, which can reactivate in immunocompromised kidney transplant patients, leading to serious complications. Initial data from the Phase II trial is expected in the first half of 2025. Additionally, Memo will use the funding to advance other developments in its current antibody portfolio.
Thomas Harth, principal at Ysios Capital, comments: "AntiBKV has the potential to transform the lives of affected patients, who currently have no other therapeutic options. By preserving the kidney and ensuring the outcome of the transplant, this antibody could offer a high-impact benefit for patients, also saving significant costs to health systems." He adds, "The team leading Memo is excellent, with a proven track record of success. The exceptional syndicate of investors backing the company is a clear indication of the team's strength and their promising results. This new investment underscores Ysios's commitment to supporting companies with transformative potential and with very positive consequences for society."
Every year, over 100,000 kidney transplants are performed worldwide, and 20,000 of them are at risk of developing BK virus-associated nephropathy.
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