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Mnemo Therapeutics Raises $90M in Series A Funding Round

NEW YORK – Mnemo Therapeutics on Wednesday said it has raised €75 million ($90 million) in a Series A financing round, which it will put toward advancing its next-generation CAR T-cell therapies and epigenetic targeting platform.

Casdin Capital, Sofinnova Partners, and an undisclosed investor led the financing round, and Redmile, Emerson Collective, and Alexandria Venture Investments also participated.

Mnemo, headquartered in Paris, has developed a suite of technologies, dubbed EnfiniT, which can identify epigenetic antigens specific to patients' tumor cells. Mnemo then manufactures autologous and allogenic CAR T-cell therapies to target these tumor-specific antigens.

The firm believes that its approach, which is rooted in research from Institut Curie and Memorial Sloan Kettering, can overcome limitations of current CAR T-cell therapies and improve outcomes for patients with solid tumors and blood cancers.

"Cell therapy is a fast-moving field, and the next generation of therapies requires smarter, stronger T cells with superior sensitivity for tumor-specific antigens," Eli Casdin, Casdin Capital's founder and chief investment officer, said in a statement. "We look forward to supporting the [Mnemo] team as they significantly advance the field of CAR T and bend the mortality curve on hard-to-treat cancers."