Basel, Switzerland, May 9th 2018 - MEMO Therapeutics AG ("MEMO"), an innovator in the field of antibody discovery and human immune repertoire analysis, announced today the closing of a Series A2 financing round of CHF 5.0 million. The substantially oversubscribed round includes the new investors Schroder Adveq, the online VC firm investiere.ch and private investors. Existing investors Redalpine Venture Partners, Zurich Cantonal Bank and private investors participated as well. The proceeds will be used to further develop the proprietary MemoMABTM technology and to progress MEMO’s antibody candidates in the fields of immuno-oncology and infectious diseases towards clinical trials.
MEMO's Chief Executive Officer Dr. Christoph Esslinger commented: “We are very pleased that we could attract new investors including the internationally renowned firm Schroder Adveq to invest into MEMO." Dr. Dragan Grabulovski, MEMO's key strategic advisor and former Chief Scientific Officer of Covagen (acquired by Johnson & Johnson) added: "The funding provided by the investors validates the interest in the MemoMABTM technology and will allow MEMO to progress quickly towards generating key proof of principle data for the lead drug candidates.”
For further details, please contact:
Memo Therapeutics AG
Dr. Christoph Esslinger, CEO
About MEMO Therapeutics AG:
Memo Therapeutics AG (MEMO) is a spin-off company of ETH Zurich. Its proprietary MemoMABTM platform allows to create an authentic copy of whole antibody repertoires from humans and animals in recombinant form. Human antibody repertoires permit the identification of protective antibodies and their targets by comparison of different patient populations (e.g. responders vs. non-responders). In addition, MEMO's ability to work with whole antibody repertoires increases the probability of success in finding antibodies against difficult targets, such as GPCRs, ion channels, CD3 and others.
For more information, please visit www.memomab.com.
About Schroder Adveq
Schroder Adveq, founded in 1997 is a leading asset manager investing globally in private equity, having USD 8.6 billion of assets under management (as of December 31, 2017). Schroder Adveq’s client base comprises institutional investors such as pension funds, insurance companies, endowments, family offices, and other financial institutions located in Europe, North America, and the Asia-Pacific region. Schroder Adveq has offices in Zurich, Frankfurt, London, Jersey, New York, Beijing, and Hong Kong.
Further information can be found at: www.schroderadveq.com
investiere.ch offers accredited private and institutional investors direct and professional access to start-up investments and is opening the asset class venture capital to a wider audience. To date, investiere.ch has successfully closed over 70 financing rounds and has built a diversified portfolio across different sectors that mirrors the Swiss innovation landscape. Together with its minority shareholder Zürcher Kantonalbank, investiere.ch is one of the leading startup investors in Switzerland and is one of the most internationally renowned Swiss fintech companies.
For more information see: www.investiere.ch
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