Houston Texas based Memgen is raising $10,000,000.00 in New Equity Investment.
Houston, TX – According to filings with the U.S. Securities and Exchange Commission, Memgen is raising $10,000,000.00 in new funding. Sources indicate as part of senior management Chief Executive Officer, Bob Coates played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.
About Memgen
Memgen is developing viral immunotherapies to harness the power of the immune system to potentially cure cancer and to protect people from COVID-19 and other diseases. The Companys pipeline products all utilize its proprietary CD40L transgene, MEM40, which has already been tested in clinical trials and has demonstrated the ability to elicit powerful, antigen-specific immune responses. The Companys lead cancer immunotherapy, MEM-288, was developed in collaboration with Moffitt Cancer Center. It is an oncolytic virus engineered to selectively target cancer cells and to supercharge the immune system through expression of two unique and powerful immune modulators: MEM40 and the powerful cytokine interferon beta. MEM-288 generates a strong systemic anti-tumor immune response following intra-tumoral vaccination in multiple tumors. Memgen expects to begin clinical testing with MEM-288 in advanced cancers in the current year. Memgens COVID-19 vaccine, MemVax, is an adjuvant designed to be used in combination with other COVID-19 vaccines to generate a strong, durable immune response. MemVax is a highly specific immune stimulant that can work with COVID-19 antigens across a range of delivery approaches. Memgen has over 100,000 doses of MemVax ready to go into clinical trials, and an active file with the US FDA. Memgen plans to soon begin clinical trials of MemVax in collaboration with other companies developing complementary COVID-19 vaccines.
To learn more about Memgen, visit http://memgenbio.com/
Contact:
Kevin Coveney, Chief Financial Officer
kcoveney@memgenbio.com
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