Schroders Capital Global Innovation Investment in Memo Therapeutics
07 Mai 2024 - 8:30AM
RNS Regulatory News
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
|
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact
rns@lseg.com or visit
www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our
Privacy
Policy.
END
ACQEASSDEADLEFA
Schroders Capital Global... (LSE:INOV)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Schroders Capital Global... (LSE:INOV)
Historical Stock Chart
Von Mai 2023 bis Mai 2024