en.Wedoany.com Reported - Memento Medicines Completes $93 Million Series A Financing and Obtains Global License for MMT-205 Bispecific Antibody
Memento Medicines, Inc., a private biotechnology company focused on biologic therapies for retinal diseases, today announced the completion of a $93 million Series A financing round. The round was co-led by Forbion, RA Capital Management, and Avego BioScience Capital, with participation from Sanofi Ventures and Samsara BioCapital. Concurrently, Memento announced it has entered into an exclusive license agreement with MabTics Co., Ltd. and Curacle Co., Ltd. to obtain global rights to MMT-205 (formerly MT-103). MMT-205 is a bispecific antibody that activates Tie2 and inhibits VEGF, two targets clinically validated to play a central role in the pathogenesis of retinal and vascular diseases. Under the terms of the license agreement, MabTics and Curacle have received an upfront payment consisting of cash and equity in Memento, and are eligible to receive additional development, regulatory, and commercial milestone payments, as well as tiered royalties on net sales.
By simultaneously agonizing Tie2 and inhibiting VEGF, MMT-205 has the potential to improve upon the established efficacy of anti-VEGF monotherapy in treating retinal diseases such as neovascular age-related macular degeneration (nAMD) and diabetic macular edema (DME). The antibody activates Tie2 signaling by directly binding to the Tie2 receptor. Compared to current therapies, MMT-205 has demonstrated stronger Tie2 activation and improved retinal vascular integrity in preclinical models. Proceeds from this financing will be used to support IND-enabling studies for MMT-205, with clinical trials expected to commence in 2027.
Naveen Daryani, CEO of Memento Medicines, stated that MMT-205 has the potential to become a best-in-class biologic therapy for nAMD and DME, supported by a robust preclinical data package established by partners MabTics and Curacle. Memento has secured support from a consortium of investors with deep expertise and a proven track record in ophthalmology, enabling the rapid advancement of this therapy to patients with various retinal diseases.
Dr. Dmitrij Hristodorov, General Partner at Forbion, commented that Forbion has extensive experience in building and guiding ophthalmology companies, and partnering with Memento will help MMT-205 realize its full potential as a potentially transformative therapy in the retinal disease space.
Dr. Nam-Kyung Lee, CEO of MabTics, and Jaehyeon Ryu, CEO of Curacle, expressed excitement and pride in establishing this alliance, which reflects MMT-205's strong therapeutic potential as a novel bispecific antibody that simultaneously activates Tie2 and inhibits VEGF, compared to current clinical competitors. By leveraging Memento's development capabilities and execution strength, they can advance scientific innovation globally and actively collaborate to accelerate the clinical progress of MMT-205, delivering impactful clinical solutions for patients with ophthalmic diseases.
In conjunction with this financing, Dr. Dmitrij Hristodorov, General Partner at Forbion; Dr. Zach Scheiner, Partner at RA Capital; Vishal Kapoor, Partner at Avego BioScience Capital; and Dr. Megan Krench, Head of Sanofi Ventures, will join the Memento Medicines Board of Directors. Memento Medicines was founded by Sera Medicines, an RA Capital-backed accelerator focused on biologics dedicated to advancing next-generation protein therapeutics.
Memento Medicines is a biotechnology company committed to advancing novel antibody therapies in ophthalmology. Founded in 2026, the company is the fifth subsidiary of Sera Medicines, an antibody accelerator established in partnership with RA Capital, focused on developing new treatments for patients with retinal diseases. Its lead program, MMT-205, is a potential best-in-class bispecific antibody that activates Tie2 and inhibits VEGF for the treatment of neovascular age-related macular degeneration (nAMD) and diabetic macular edema (DME).
Forbion is a global venture capital firm with offices in Naarden, the Netherlands; Munich, Germany; and Boston, USA. It invests in innovative biotechnology companies and manages approximately €5 billion across multiple fund strategies, covering all stages of (bio)pharmaceutical drug development. With over 30 investment professionals, the firm has made more than 130 investments through 11 funds.
RA Capital Management, founded in 2004, is a multi-stage investment management firm dedicated to evidence-based investing in public and private healthcare, life sciences, and planetary health companies, managing over $14 billion in assets.
Avego BioScience Capital is a mid-to-late-stage life sciences venture capital firm led by a team of experienced investors and operators with a combined total of over 100 years of biopharmaceutical experience, employing a fundamental-driven, asset-centric investment strategy.
MabTics, founded in 2022 by experts with over 15 years of experience in antibody engineering and translational research, is dedicated to developing innovative antibody therapies based on a proprietary human antibody library to bring new hope to patients suffering from refractory vascular diseases.
Curacle Co., Ltd. (KOSDAQ: 365270) is a clinical-stage biopharmaceutical company focused on developing therapies targeting endothelial and microvascular dysfunction. The company is advancing a pipeline of novel small molecule therapies for retinal, renal, neurodegenerative, and vascular diseases, and collaborates with MabTics to develop novel biologics targeting vascular dysfunction.
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