XyloCor Therapeutics Secures $67.5 Million for Gene Therapy Trials
XyloCor Therapeutics, a clinical-stage biopharmaceutical company focused on developing novel gene therapies for cardiovascular disease, has successfully secured $67.5 million in Series B financing. This significant investment is led by Jeito Capital, a global leading private equity fund, with participation from existing institutional investors EQT, Fountain Healthcare Partners, and Lumira Ventures.
The funding will primarily support two double-blind Phase 2 clinical trials of XyloCor’s lead candidate, XC001 (encoberminogene rezmadenovec). The first trial, EXACT-2, will evaluate XC001 in refractory angina using a new non-surgical method of endocardial administration via a novel injection catheter. The second trial will assess XC001 as an adjunctive treatment to coronary artery bypass graft surgery (CABG).
XC001 has shown transformative potential for treating refractory angina, a debilitating condition affecting over one million people in the United States who have exhausted available treatment options and suffer from a poor quality of life. Positive results from the Phase 1/2 clinical trial (EXACT-1) demonstrate XC001’s disease-modifying potential to relieve chest pain in patients with refractory angina by reducing ischemic burden.
The investment by Jeito Capital and the participation of existing investors underscore the confidence in XyloCor’s ability to address significant unmet treatment needs among underserved patients with cardiovascular disease. Rachel Mears, Partner at Jeito Capital, will join the XyloCor Board of Directors, further strengthening the company’s leadership and expertise in cardiology.
XyloCor is pioneering the application of one-time gene therapy to transform outcomes for patients with cardiovascular disease. The company’s approach aims to promote the growth of new blood vessels in the heart, reducing symptoms and improving outcomes beyond current treatments. The financing will accelerate the clinical development of XC001, enabling XyloCor to complete two Phase 2 clinical trials and achieve its mission to help people with cardiovascular disease who have no treatment options.
Al Gianchetti, President and Chief Executive Officer of XyloCor Therapeutics, expressed his delight in having Jeito Capital join the company’s strong investor syndicate and Board of Directors. “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.”
Rachel Mears, Partner at Jeito Capital, emphasized the potential of XC001 to make a meaningful difference in patient lives. “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. 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.”
Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, highlighted the strategic alignment of XyloCor’s transformative potential in cardiology with Jeito’s expertise and commitment to this therapeutic area. “XyloCor’s transformative potential in cardiology perfectly fits with our strategy aimed at accelerating the emergence of potential game changers. We are excited to collaborate with XyloCor’s talented and experienced team and further support them with our expertise in cardiology to develop a breakthrough gene therapy that has the great potential to make a meaningful difference in patient lives.”
XyloCor plans to dose the first patient in the Phase 2 study by year-end 2025, marking a significant step forward in its clinical program and the potential to bring innovative therapies to patients with high unmet needs. The company’s commitment to addressing cardiovascular disease, the leading cause of death globally, underscores the importance of this funding and the collaborative efforts between XyloCor and Jeito Capital.
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