Jeito Capital leads $67.5 million (€64.4 million1) Series B financing
in XyloCor Therapeutics to develop Novel Gene Therapy
in Cardiovascular Disease
- Proceeds of financing will support two double-blinded Phase 2 trials for its lead candidate XC001, a pioneering transformative gene therapy approach for the treatment of severe cardiovascular disease
- This investment builds on Jeito's expertise in cardiology, demonstrating its continued strategic commitment to bring breakthrough therapies to patients with high unmet needs
Existing institutional investors, including EQT, Fountain Healthcare Partners, and Lumira Ventures, also participated in the round. Rachel Mears, Partner at Jeito Capital, will also join XyloCor Board of Directors.
XyloCor is pioneering the application of one-time gene therapy to address significant unmet treatment needs among underserved patients with cardiovascular disease.
Proceeds from the investment will support a randomized, double-blind Phase 2b clinical trial (EXACT-2) of XC001 (encoberminogene rezmadenovec), XyloCor's lead asset, in refractory angina, using a new non-surgical method of endocardial administration via a novel injection catheter. XC001 has demonstrated potential to transform outcomes for patients who have exhausted available treatment options and have a debilitating quality of life. Based on the foundation of efficacy and safety data for XC001 demonstrated in EXACT-1 (Phase 1/2 clinical trial) positive results published in Circulation: Cardiovascular Interventions, EXACT-2 (Phase 2b clinical trial) is planned to be launched in 2025.
Furthermore, 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). 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. 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.
Through this investment, Jeito strengthens its expertise in Cardiology and renews its commitment to this therapeutic area with high unmet needs. Cardiovascular diseases are the leading cause of death globally and thus, call for the emergence of new innovative therapies.
Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said: "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 supporting them with our expertise in cardiology in order to develop a breakthrough gene therapy that has the great potential to make a meaningful difference in patient lives.”
Rachel Mears, Partner at Jeito Capital and incoming Board Member at XyloCor Therapeutics, added: "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. We look forward to collaborating with the company as it progresses to the next steps in its clinical program.”
Al Gianchetti, President and Chief Executive Officer of XyloCor Therapeutics, concluded: "We are delighted to have Jeito Capital join our 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.”
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 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.
Contacts:
Jeito Capital
Rafaèle Tordjman, Founder & CEO
Jessica Fadel, EA
Tel: +33 6 33 44 25 47
Maior ICR Healthcare
Stéphanie Elbaz Mary-Jane Elliott / Davide Salvi / Kris Lam
Tel: +33 6 46 05 08 07 [email protected]
Tel: +44 (0) 20 3709 5700
1 EUR/USD exchange rate : 1 EUR = 1.0492 USD date December 4, 2024 (source: Banque de France)
