Memento Medicines Emerges from Stealth with $93M Series A to Advance Novel Bispecific Antibody for Retinal Diseases

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Pharmaceutical Integration Circle DataMonitoring shows：On June 18, 2026, Memento Medicines, based in Boston, USA, completed a $93 million Series A financing round. The funds will be used for the preclinical and clinical development of its core bispecific antibody candidate, MMT-205 (formerly coded as MT-103).

This round of financing was co-led by Forbion, RA Capital Management, and Avego BioScience Capital, with participation from Sanofi Ventures and Samsara BioCapital.

Concurrent with the financing closing, Memento Medicines signed an exclusive global licensing agreement with Korean biopharmaceutical companies MabTics and Curacle, securing the rights to develop, manufacture, and commercialize MMT-205 worldwide. This candidate drug is an innovative bispecific antibody that simultaneously activates Tie2 and inhibits VEGF. Both targets have been clinically validated as core pathogenic pathways mediating retinal and systemic vascular diseases.

In accordance with the terms of the license agreement,MabTics and Curacle will receive upfront consideration totaling $8 million in value, comprising cash and equity in Memento Medicines;The parties may also receive clinical, drug approval, and commercialization milestone payments in stages, and obtain a share of the product's net sales based on a tiered percentage. The total potential value of this transaction could reach up to $1.078 billion.

Under the joint R&D agreement signed in July 2024, Curacle and MabTics will split all transaction proceeds equally, resulting in a total transaction value of $538.87 million for Curacle, including a $4 million upfront cash payment.

MMT-205 exhibits triple therapeutic activity: direct agonism of the Tie2 receptor, coupled with simultaneous inhibition of the VEGF and Ang-2 pathways. Preclinical head-to-head comparative studies have demonstrated that this molecule offers superior vascular stabilization and anti-angiogenic efficacy compared to currently marketed anti-VEGF monotherapies for retinal diseases. The funds raised in this Series A financing will fully cover all preclinical studies required to support the Investigational New Drug (IND) application for MMT-205, with the company planning to initiate the drug’s first-in-human clinical trials in 2027.

Currently, anti-VEGF agents used in standard clinical practice can only block pathological neovascularization but fail to restore the compromised vascular barrier function. This results in persistent vascular leakage and necessitates frequent intravitreal injections, leading to limited long-term visual benefits for millions of retinal disease patients worldwide. MMT-205, with its dual-target design, directly addresses this significant unmet clinical need by inhibiting abnormal angiogenesis while simultaneously repairing and stabilizing retinal vascular structures, thereby improving the underlying pathology at its source.

Memento Medicines Adopts a NewCo Biotech Structure Focused on a Single Asset, establish a dedicated R&D management team around core candidate drugs, streamline decision-making processes, and concentrate capital intensively to accelerate the translation of candidate drugs from the laboratory to clinical applications.

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References:

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https://prod.chosunbiz.com/jp/jp-science/2026/05/11/6XZIUOD66JDBXEIVSC2TDUHHBY/；

https://www.sec.gov/Archives/edgar/data；

https://www.businesswire.com；

https://lifescivoice.com；

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