XyloCor Therapeutics Raises $67.5 Million in Series B Financing to Advance Gene Therapy for Cardiovascular Disease
XyloCor Therapeutics, a clinical-stage biopharmaceutical company based in King of Prussia, Pennsylvania, has secured $67.5 million in a Series B financing round. The investment, led by Jeito Capital with participation from existing investors EQT, Fountain Healthcare Partners, and Lumira Ventures, aims to advance the development of XyloCor’s novel gene therapy, XC001, targeting severe cardiovascular conditions.
The newly acquired funds will support two double-blind Phase 2 clinical trials of XC001, also known as encoberminogene rezmadenovec. This gene therapy is designed to promote the growth of new blood vessels in the heart, potentially offering a transformative treatment for patients with refractory angina who have exhausted existing medical options.
The first of these trials, EXACT-2, is a randomized, double-blind Phase 2b study focusing on patients with refractory angina. This trial will utilize a novel injection catheter for non-surgical endocardial delivery of XC001, aiming to enhance blood flow and alleviate chest pain associated with ischemic heart disease. The initiation of EXACT-2 is planned for 2025.
In addition to EXACT-2, XyloCor plans to conduct a second Phase 2 trial evaluating XC001 as an adjunctive therapy to coronary artery bypass grafting (CABG). By administering XC001 during the CABG procedure, the goal is to stimulate the formation of new blood vessels in heart regions not addressed by bypass grafts, potentially improving patient outcomes beyond what CABG alone can achieve. The company aims to dose the first patient in this trial by the end of 2025.
Rachel Mears, Partner at Jeito Capital, will join XyloCor’s Board of Directors, bringing additional expertise to the company’s leadership team. Mears expressed enthusiasm about supporting XyloCor’s innovative approach, highlighting the potential of XC001 to significantly impact the treatment landscape for cardiovascular diseases.
Al Gianchetti, President and CEO of XyloCor Therapeutics, stated that the substantial investment from a distinguished group of life sciences investors underscores the progress made and the confidence in achieving critical milestones ahead. With this financing, XyloCor is poised to accelerate the clinical development of XC001, aiming to provide new therapeutic options for patients suffering from cardiovascular diseases with limited treatment alternatives.
XyloCor Therapeutics was co-founded by Dr. Ronald Crystal and Dr. Todd Rosengart and holds an exclusive license from Cornell University for its proprietary gene therapy technologies. The company’s mission is to develop best-in-class gene therapies that transform outcomes for patients with cardiovascular diseases.
This Series B financing round not only bolsters XyloCor’s financial foundation but also signifies a pivotal advancement in the pursuit of innovative gene therapies aimed at addressing significant unmet needs in cardiovascular healthcare.
