KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--XyloCor Therapeutics, Inc., (“XyloCor”), a clinical stage biopharmaceutical company developing novel gene therapies for cardiovascular disease, today announced the completion of a $67.5 million Series B financing.
New investment will support a randomized, double-blind Phase 2b clinical trial (EXACT-2) of XC001 (encoberminogene rezmadenovec), in refractory angina, using a new non-surgical method of endocardial administration via a novel injection catheter. The financing will also fund a second randomized, double-blind Phase 2 trial of XC001 as an adjunctive treatment to coronary artery bypass graft surgery (CABG). XC001 offers a new therapeutic approach for debilitating and chronic conditions that impact over one million people in the United States who have no treatment options.
New investor Jeito Capital, a global leading private equity fund, led the Series B financing round which also included existing institutional investors EQT, Fountain Healthcare Partners, and Lumira Ventures. Rachel Mears, Partner at Jeito Capital, will join the XyloCor Board of Directors.
“We are delighted to have Jeito Capital join our strong investor syndicate and Board of Directors,” said Al Gianchetti, president and chief executive officer of XyloCor Therapeutics. “The support of this prominent group of life sciences investors is recognition of the progress we have made and confidence in our ability to reach important milestones in the path ahead. With this financing, we can accelerate our clinical development of XC001, completing two phase 2 clinical trials, and achieve our mission to help people with cardiovascular disease who have no treatment options.”
XyloCor is pioneering the application of one-time gene therapy to address significant unmet treatment needs among underserved patients with cardiovascular disease. In its initial target indication in refractory angina, XC001 has demonstrated potential to transform outcomes for patients who have exhausted available treatment options and have a debilitating quality of life. Positive results from the recently published Phase 1/2 clinical trial (EXACT-1) demonstrate the disease-modifying potential of XC001 to relieve chest pain in patients with refractory angina by reducing ischemic burden, as published in Circulation: Cardiovascular Interventions.
Based on the foundation of efficacy and safety data for XC001 demonstrated in EXACT-1, XyloCor plans to launch a randomized, double-blind Phase 2b in refractory angina in 2025 to further build upon the clinically-meaningful evidence generated to-date. XyloCor intends to deploy a catheter‑based endocardial delivery of XC001 in the Phase 2b EXACT-2 study, eliminating the need for surgical administration in this population.
XyloCor also aims to initiate a second Phase 2 trial of XC001 in 2025 as an adjunctive therapy to augment the effectiveness of CABG: a procedure used to treat coronary artery disease. CABG is generally recommended when there are significant blockages in the major coronary arteries with the objective to improve oxygen-rich blood flow, resulting in improvement in cardiovascular disease symptoms and quality of life, and reduction in future cardiac events. There are approximately 400,000 CABG procedures performed annually in the United States, in which an estimated one-third of procedures result in incomplete coronary revascularization, which can result in increased mortality, hospitalizations, repeat revascularizations, and angina symptoms. Administering XC001 during the CABG procedure is intended to promote the growth of new blood vessels in the areas of the heart not treated by the bypass grafts and therefore reduce symptoms and improve outcomes beyond the bypass alone. XyloCor plans to dose the first patient in the Phase 2 study by year end 2025.
“We are thrilled to support XyloCor as it advances its clinical trials to evaluate XC001 as a potential treatment for patients struggling with the burden of cardiovascular disease,” said Rachel Mears, Partner at Jeito Capital. “The company has strong support from an experienced leadership team, world-class cardiologists and scientists, and has made impressive achievements in a short time in advancing its novel gene therapy approach. We look forward to collaborating with the company as it progresses to the next steps in its clinical program.”
About Jeito Capital
Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States. For more information, please visit www.jeito.life or follow us on LinkedIn or X.
About XC001
XC001 is designed to promote new blood vessels in the heart that will bypass diseased blood vessels and improve blood flow. By restoring blood flow, chest pain associated with ischemic heart disease may decrease, potentially improving patients’ quality of life by enabling them to engage in daily physical activities that would otherwise cause pain. XC001 is designed to avoid toxicity issues observed with other gene therapies through a strategy of one‑time, local administration. This approach allows XC001 to achieve higher gene expression in the heart while minimizing systemic vector circulation and associated side effects.
About XyloCor
XyloCor Therapeutics, Inc. is a private, clinical‑stage biopharmaceutical company developing potential best‑in‑class gene therapies to transform outcomes for patients with cardiovascular disease. The Company’s lead product candidate, XC001, is in clinical development to investigate use for patients with ischemic heart disease for whom there are no treatment options. XyloCor has a second preclinical investigational product, XC002, in discovery stage, being developed for the treatment of patients with cardiac tissue damage from heart attacks. The company, which was co‑founded by Ronald Crystal, M.D., and Todd Rosengart, M.D., has an exclusive license from Cornell University. For more information, visit www.xylocor.com.
