Schroders Cap Glbl - Investment in Memo Therapeutics
07/05/2024 07:30
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RNS Number : 2515N Schroders Capital Global Innovation 07 May 2024
7 May 2024
Schroders Capital Global Innovation Trust plc
Investment in Memo Therapeutics
Schroders Capital Global Innovation Trust plc (the "Company") is pleased to
announce its follow-on investment in Memo Therapeutics AG ("Memo"), 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 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 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.
Enquiries:
Schroder Investment Management Limited
Augustine Chipungu (Press) 0207 658 2106
John Spedding 0207 658 3206
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