Mendus

Mendus

IMMU.ST
Stockholm, Sweden· Est.
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Private Company

Total funding raised: $63M

Market Cap: $36.5MFounded: 2001HQ: Stockholm, Sweden

Overview

Mendus is dedicated to addressing the primary cause of cancer mortality—tumor recurrence—by developing dendritic cell-based immunotherapies. The company's lead asset, vididencel, has generated positive Phase 2 survival data in AML and is being prepared for pivotal development, marking a significant milestone. Mendus's strategy focuses on establishing its allogeneic cell platform as a foundational 'cancer maintenance' therapy and an intratumoral immune primer, targeting high-unmet-need indications like AML and ovarian cancer.

OncologyHematology

Technology Platform

Allogeneic, off-the-shelf dendritic cell platform engineered ex vivo to present a broad repertoire of tumor antigens, enabling two therapeutic modalities: systemic maintenance therapy and intratumoral immune priming.

Funding History

3
Total raised:$63M
Series C$35M
Series B$20M
Series A$8M

Opportunities

The lead program in AML addresses a severe unmet need with a clear regulatory and clinical path, representing a multi-billion dollar market.
The platform's versatility offers expansion into large indications like ovarian cancer and potential as a combination partner in solid tumors.

Risk Factors

Key risks include the failure of vididencel in pivotal Phase 3 trials, regulatory hurdles for a novel cell therapy, and the need for significant additional capital, leading to potential shareholder dilution.
Commercial success depends on establishing a new treatment paradigm.

Competitive Landscape

Mendus competes in the dendritic cell vaccine and intratumural therapy spaces. Its primary differentiation is its allogeneic, off-the-shelf platform focused on the maintenance therapy setting, offering scalability and a benign safety profile compared to autologous therapies and more toxic systemic drugs.

Company Timeline

2001Founded

Founded in Stockholm, Sweden

2018Series B

Series B: $20.0M

2021Series C

Series C: $35.0M