Excerpt: Led by Casdin Capital, Sofinnova Partners, and an undisclosed investor, the €75 million ($90 million) Series A funding will help accelerate Mnemo Therapeutics’ development of its EnfiniT targeting and next generation chimeric antigen receptors (CAR) T cell therapy platform, enabling cell therapy options for solid and blood-based cancers with deeper clinical responses than current therapies.
Full Article: The €75 million ($90 million) Series A financing completed by the leading innovator in the biotechnology industry was led by Casdin Capital, Sofinnova Partners, and an undisclosed investor, including participation from Redmile, Emerson Collective and Alexandria Venture Investments.
“Based on the support from our premier investors and our team’s deep experience, we have completed a record-breaking Series A financing in France to develop powerful cell therapies that will achieve unprecedented breakthroughs for patients with solid and blood-based cancers,” said Mnemo Therapeutics’ CEO, Alain Maiore.
The Series A financing will facilitate the company’s development of its novel epigenetic antigen (E-antigen) discovery engine, EnfiniT, bringing together pioneering research from Institut Curie and Memorial Sloan Kettering Cancer Centre (MSK). EnfiniT’s ability to identify antigens with greater tumour specificity that are completely unique to cancer cells, combined with its proprietary suite of technologies that increase CAR T cell memory and persistence, opens up a range of more effective therapeutic options than those currently available. This platform will have the capacity to overcome the current limitations of CAR T through leading autologous and allogenic cell manufacturing.
“Our belief in Mnemo’s unique, integrated approach to cell therapy compelled us to spearhead the seed round in 2019. Now, more than ever, we are confident in its potential to deliver a new treatment standard across a range of solid tumours and blood cancers, with the ability to impact other devastating diseases,” said Antoine Papiernik, Managing Partner & Chairman of Sofinnova Partners.
“Cell therapy is a fast moving field and the next generation of therapies requires smarter, stronger T cells with superior sensitivity for tumour-specific antigens,” added Eli Casdin, Chief Investment Officer and Founder of Casdin Capital. “We believe Mnemo has both and have been incredibly impressed with the scientific and technological capability at the company. We look forward to supporting the team as they significantly advance the field of CAR T and bend the mortality curve on hard to treat cancers.”
The highly experienced team assembled by Maiore brings together leading minds in the field, and is headquartered in Paris, France, with a location in New York City.
About Mnemo Therapeutics
he biotechnology company develops potent cell therapies, powered by its EnfiniT platform, stronger T cells and best-in-class manufacturing, creating accessible cures and transforming the body’s immune response to overcome disease.
To learn more visit https://mnemo-tx.com and follow Mnemo Therapeutics on Twitter (@MnemoTx) and LinkedIn.
About Sofinnova Partners
Based in Paris, London and Milan, Sofinnova Partners is a leading European venture capital firm in life sciences, specialising in healthcare and sustainability. Its team of experts partners with ambitious entrepreneurs to support the development of transformative innovations.
For more information visit https://www.sofinnovapartners.com/.
About Casdin Capital
Founded in 2012, Casdin Capital LLC brings a deep understanding, expertise and long-term perspective to financing the next generation of life science innovation. For more information, please visit www.casdincapital.com.