Boston-based Memento Medicines, Inc. has launched with a USD 93 million Series A financing round to advance MMT-205 (previously known as MT-103), a bispecific antibody targeting Tie2 and VEGF for the treatment of neovascular age-related macular degeneration (nAMD) and diabetic macular edema (DME). The round was co-led by Forbion, RA Capital Management, and Avego BioScience Capital, with participation from Sanofi Ventures and Samsara BioCapital.
Concurrent with the financing, Memento entered into an exclusive worldwide license agreement for MMT-205 from South Korea-based MabTics Co., Ltd. and Curacle Co., Ltd. (KOSDAQ: 365270). Under the terms, MabTics and Curacle received upfront cash payments and equity in Memento, and are eligible for development, regulatory, and commercial milestones as well as tiered royalties. Proceeds will support IND-enabling studies for MMT-205, with clinical trials expected to initiate in 2027. In conjunction with the financing, representatives from each lead investor joined Memento's Board of Directors.
Memento was founded as the fifth subsidiary of Sera Medicines, a biologics-focused antibody accelerator established in collaboration with RA Capital in 2023. The structure positions Memento within a broader platform of antibody-focused companies built under the Sera umbrella.
MMT-205 activates Tie2 signaling through direct receptor engagement while simultaneously inhibiting VEGF — two pathways central to retinal vascular disease. The company said preclinical data indicate greater Tie2 activation and improved retinal vascular integrity compared with existing anti-VEGF monotherapies, which represent the current standard of care in nAMD and DME.