XyloCor Therapeutics Secures $67.5M in Series B for Cardiovascular Gene Therapy Development

In KING OF PRUSSIA, Pennsylvania, XyloCor Therapeutics, Inc., a biopharmaceutical firm focused on pioneering gene therapies for cardiovascular diseases, has successfully secured $67.5 million in Series B financing. This influx of funds will enable the company to advance its clinical trials for its innovative gene therapy product, XC001 (encoberminogene rezmadenovec), designed to address severe cases of refractory angina and support coronary artery bypass graft surgery (CABG).

The financing round was spearheaded by Jeito Capital, a globally renowned private equity fund. In addition to Jeito Capital, the round saw participation from existing institutional investors like EQT, Fountain Healthcare Partners, and Lumira Ventures. Rachel Mears of Jeito Capital joins the Board of Directors at XyloCor, reflecting the robust investor confidence in the company's strategic direction and potential.

Al Gianchetti, the President and CEO of XyloCor Therapeutics, expressed enthusiasm about the backing received from high-profile life sciences investors. He noted that the capital would significantly accelerate the clinical development of XC001, particularly for two Phase 2 trials, underscoring the company's mission to provide new therapeutic options for cardiovascular patients who currently have limited treatment avenues.

XyloCor is at the forefront of applying one-time gene therapy to fulfill unmet medical needs in the cardiovascular domain. Their flagship product, XC001, is initially focusing on refractory angina, a condition where traditional treatments no longer suffice, thus affecting the quality of life for many patients. Recent clinical data from a Phase 1/2 trial (EXACT-1) showcased XC001's potential in alleviating chest pain by diminishing ischemic burdens, findings that were published in the journal Circulation: Cardiovascular Interventions.

Building on this promising data, XyloCor plans to initiate a Phase 2b trial (EXACT-2) in 2025, targeting patients with refractory angina. This trial will employ a novel, catheter-based method for delivering XC001 directly to the heart, eliminating the need for surgical intervention. Furthermore, the company aims to launch another Phase 2 trial by the end of 2025, examining XC001 as an adjunctive treatment during CABG. CABG is vital for addressing blockages in major coronary arteries, and approximately 400,000 such procedures are conducted annually in the U.S. However, a significant portion of these surgeries result in incomplete revascularization, which can lead to persistent symptoms and increased hospitalization risks. The integration of XC001 during CABG aims to stimulate the growth of new blood vessels in untreated areas, thereby enhancing patient outcomes.

Rachel Mears of Jeito Capital voiced her support for XyloCor’s endeavors, noting the company's impressive progress and the strength of its leadership and scientific team. She emphasized the potential impact of XC001 on patients burdened by cardiovascular disease and expressed anticipation for the ongoing collaboration as XyloCor advances its clinical research.

XyloCor’s lead product, XC001, is designed to foster the development of new blood vessels in the heart, improving blood flow and potentially alleviating chest pain associated with ischemic heart conditions. Through a strategic approach of localized, one-time administration, XC001 aims to minimize systemic side effects while achieving high gene expression in cardiac tissues.

XyloCor Therapeutics, founded by Ronald Crystal, M.D., and Todd Rosengart, M.D., and holding an exclusive license from Cornell University, remains committed to transforming the treatment landscape for cardiovascular patients with its cutting-edge gene therapy solutions. The company is also developing XC002, a preclinical product aimed at treating cardiac tissue damage following heart attacks.