January 8, 2025
Wayne-based Biopharmaceutical Firm XyloCor Therapeutics Secures $67.5M in Series B Funding to Advance Gene Therapy for Cardiovascular Disease
Wayne, Pennsylvania, United States-
XyloCor Therapeutics, a clinical-stage biopharmaceutical company specializing in gene therapies for cardiovascular diseases, has closed $67.5 million in a Series B funding round on January 7, 2025. The financing was led by Jeito Capital, with participation from EQT Life Sciences, Fountain Healthcare Partners, and Lumira Ventures. The funds will be utilized to advance two double-blind Phase 2 clinical trials of the company's lead candidate, XC001, aimed at treating refractory angina and improving outcomes for coronary artery bypass graft surgery (CABG) patients.
About XyloCor Therapeutics
Founded in 2013, XyloCor Therapeutics develops innovative gene therapies to address unmet needs in cardiovascular disease treatment. The company’s lead product, XC001, is designed to stimulate the formation of new blood vessels in the heart, bypassing blocked arteries and improving blood flow. This approach aims to relieve chest pain in patients with refractory angina who have no other treatment options. XC001’s potential has been demonstrated in Phase 1/2 clinical trials, showing significant promise in reducing ischemic burden and improving quality of life.
Purpose of financing
The $67.5M raised will support the Phase 2b EXACT-2 clinical trial of XC001, which will utilize a novel catheter-based delivery system, eliminating the need for surgical administration. Additionally, the funds will be directed toward a second Phase 2 trial exploring XC001 as an adjunctive treatment during CABG. These trials aim to address significant challenges in cardiovascular disease treatment and expand XyloCor’s impact on patients with limited therapeutic options.
CEO's Insights
“We are delighted to have Jeito Capital join our strong investor syndicate and Board of Directors,” said Al Gianchetti, CEO of XyloCor Therapeutics. “This funding will accelerate our clinical development efforts, allowing us to complete two Phase 2 trials and advance our mission to help patients with cardiovascular disease who currently have no treatment options.”
Investor Perspective
Rachel Mears, Partner at Jeito Capital, added:
“XyloCor’s progress and potential are truly impressive. We are thrilled to support the company as it pioneers gene therapies for underserved cardiovascular disease patients.”
Conclusion
With its innovative approach to gene therapy, XyloCor Therapeutics is positioned to revolutionize cardiovascular disease treatment. The Series B funding will enable the company to advance critical clinical trials and address unmet needs for patients worldwide.
For more information, visit XyloCor Therapeutics on LinkedIn.