Two years after Akrevia Therapeutics launched, the company has rebranded itself as Xilio Therapeutics and secured $100.5 million in a Series B financing round that will be used to advance its lead therapeutic candidates into clinical studies.
Two years after Cambridge, Mass.-based Akrevia Therapeutics launched, the company has rebranded itself as Xilio Therapeutics and secured $100.5 million in a Series B financing round that will be used to advance its lead therapeutic candidates into clinical studies.
The financing will be used to progress Xilio’s first two therapeutic candidates, XTX201 (tumor-selective IL-2) and XTX101 (tumor-selective aCTLA4 mAb) through Investigational New Drug (IND) enabling studies and into Phase I clinical trials. The funding will also be used to advance additional tumor-selective cytokine programs using Xilio’s proprietary technology. XTX201 and XTX101 have demonstrated tumor-selective activity in preclinical models, significantly widening the potential therapeutic index for these therapies, the company said.
Xilio laid out the reasoning behind the rebranding from Akrevia Therapeutics. In its announcement, Xilio said the rebranding “reflects the company’s evolution from a research-focused organization to a development stage company and commitment to developing the next generation of ultra-potent IO therapies.” Xilio is derived from the Latin term Ex Nihilo, meaning creation or big-bang, and embodies the company’s vision to create the next generation of transformative cancer treatments for individuals living with cancer by unleashing the full power of highly potent immune therapies precisely in tumors, the company added.
Xilio Chief Executive Officer Rene Russo called the financing round a “transformational moment” for the company as its team works to bring its development programs to cancer patients and expand its tumor-selective cytokine pipeline.
“We are fortunate to have the support of investors who share our vision to deliver highly potent and effective tumor-selective cancer therapies to patients,” Russo said in a statement.
The Series B financing round was led by Takeda Ventures, Inc. New investors in the round include SV Health Investors, MRL Ventures Fund, RiverVest Venture Partners, Bay City Capital, Solasta Ventures, M Ventures, and Ipsen Ventures. Existing investors in Xilio include F-Prime Capital and Atlas Venture.
Xilio’s proprietary technology is aimed at creating a new class of potent immuno-oncology therapies activated selectively within the tumor environment. These tumor-selective therapies are designed to overcome the significant toxicities associated with validated IO therapies, such as IL-2 and aCTLA4, which have historically limited the number of patients that can be treated and prevented patients from completing full courses of treatment, the company said in its announcement.
Jayson Punwani, an investment partner with Takeda Ventures, said Xilio’s proprietary platform offers a “compelling approach” in immuno-oncology and noted that agents in the IO space “have proven effective, resulting in compelling durable clinical responses.”
