Xenikos Secures USD 30 Million in Series B Financing
Xenikos, a clinical-stage biopharmaceutical company currently developing a novel therapy for treating acute graft-versus-host disease (aGVHD), announced the receipt of USD 30 million from a Series B financing. Two new investors in the Company – Medicxi and RA Capital Management – participated in the financing round. The funds will be used to advance the development of Xenikos’ lead compound, T-Guard, including conducting clinical Phase 3 registration trials in the US and EU, arranging commercial-scale production, and submitting the relevant applications for market approval. In connection with this financing, Dr. Jon Edwards of Medicxi and Dr. Jake Simson of RA Capital will join Xenikos’ Board of Directors.
“We are extremely pleased to have the support of these top-tier investors not just in terms of financing but also for the expertise and insight they bring to Xenikos. We very much look forward to welcoming Dr. Edwards and Dr. Simson to our Board of Directors at this important stage of development for the Company,” said Dr. Ypke van Oosterhout, Chief Executive Officer of Xenikos. “This round of financing is a critical milestone in our Company’s history, helping us bring T-Guard to market for treating steroid-resistant aGVHD in both the US and the EU. Based on the encouraging results of Phase 1/2 testing, we are confident that T-Guard has the potential to help cure patients who develop this devastating and often fatal condition. We are fully committed to moving T-Guard into Phase 3 testing as soon as possible.”
“We are excited to back Xenikos and their mission of bringing a new treatment to patients suffering from aGVHD. This is a very challenging indication with few options available and we feel T-Guard has the potential to significantly improve outcomes,” said Dr. Jon Edwards, Principal at Medicxi. “The investment is a perfect fit for our growth fund which has the goal of supporting European companies developing innovative therapies. We look forward to working with the Xenikos team and supporting their efforts.”
“Transplantation medicine has been starved of innovation for decades. For the thousands of patients receiving an allograft each year, GVHD can dash the hopes of recovery and cure,” added Dr. Jake Simson, Principal at RA Capital. “We are excited to team with Xenikos to help realize their life-long mission of bringing T-Guard to the fight against aGVHD.”