XyloCor Therapeutics, a clinical-stage biopharmaceutical company focused on developing gene therapies for cardiovascular disease, has announced the completion of a $67.5 million Series B financing. The funding, led by Jeito Capital, will support the advancement of XyloCor's lead candidate, XC001, through two Phase 2 clinical trials targeting refractory angina and as an adjunctive treatment to coronary artery bypass graft (CABG) surgery.
Advancing XC001 for Refractory Angina
XC001 (encoberminogene rezmadenovec) is designed to promote the growth of new blood vessels in the heart, bypassing blocked arteries and improving blood flow. This approach aims to alleviate chest pain in patients with refractory angina who have exhausted other treatment options. The EXACT-2 trial, a randomized, double-blind Phase 2b study, will evaluate XC001 using a novel catheter-based delivery system, eliminating the need for surgical administration. Positive results from the Phase 1/2 EXACT-1 trial, published in Circulation: Cardiovascular Interventions, demonstrated the potential of XC001 to reduce ischemic burden and improve quality of life.
XC001 as Adjunctive Therapy to CABG
The financing will also support a second Phase 2 trial investigating XC001 as an adjunctive treatment during CABG. Approximately 400,000 CABG procedures are performed annually in the United States, with an estimated one-third resulting in incomplete coronary revascularization. Administering XC001 during CABG is intended to promote new blood vessel growth in areas of the heart not treated by the bypass grafts, potentially improving outcomes beyond the bypass alone. XyloCor plans to dose the first patient in this Phase 2 study by the end of 2025.
Leadership and Investor Perspectives
"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. "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, 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."
