Memento Medicines raises $93M Series A for retinal-disease antibody
What's the deal? Boston biotech Memento Medicines has raised $93 million in a Series A round to advance a newly licensed drug for retinal disorders.
Alongside the funding, Memento struck an exclusive deal with MabTicsDealroom has a profile for this one. Try Dealroom → and CuracleDealroom has a profile for this one. Try Dealroom →, paying undisclosed cash and equity for worldwide rights to MMT-205. The investigational antibody becomes the company's lead program.
MMT-205 is designed to block the VEGF pathway and activate the Tie2 receptor at the same time. Memento believes this dual mechanism can outperform current monotherapies by strengthening blood vessels in the retina.
The company plans to study the drug in neovascular age-related macular degeneration and diabetic macular edema.
Why now? The Series A will bankroll investigational new-drug-enabling studies, which are expected to start next year.
Existing anti-VEGF injections dominate retinal care but require frequent dosing and carry resistance risks, leaving room for a more durable option.
What could go wrong? MMT-205 is still early-stage, and rivals are exploring similar dual-action approaches.
If development falters, the bet unravels. Success, however, would trigger undisclosed milestone payments and tiered royalties for MabTics and Curacle.
The signal: The deal shows how strategic licensing plus solid financing can fast-track a biotech pipeline.
The round was co-led by Forbion, RA Capital Management, and Avego BioScience CapitalDealroom has a profile for this one. Try Dealroom →, with Sanofi VenturesDealroom has a profile for this one. Try Dealroom → and Samsara BioCapitalDealroom has a profile for this one. Try Dealroom → participating. Their backing signals investor appetite for a differentiated shot at a $50 billion global eye-disease market — and positions Memento as a target for larger pharma players.
Read more: pulse.bot
