NC-XILIS-INC
13.7.2022 14:02:12 CEST | Business Wire | Press release
Xilis, Inc., a pioneering biotechnology company developing its MicroOrganoSphere™ (MOS™) technology to guide precision therapy for cancer patients and accelerate drug discovery and development, has closed an extension of over US$19 million to its Series A financing round, bringing the total amount raised to over US$89 million. New investor FPV Ventures led the extension, with participation from fellow new investor Alexandria Venture Investments and existing investors EQT Life Sciences, Mubadala Capital Management, Pear Ventures, GV (formerly Google Ventures), the Duke Angel Network, Catalio Capital Management, Two Sigma Ventures, Felicis Ventures, Alix Ventures and other strategic partners.
“Despite unprecedented market conditions in the biotech sector, we raised this extension at a step-up valuation and from several of the most reputable global investors. Our investors are strongly encouraged by the progress we have made in building diagnostic programs that predict patient response and achieving significant traction in partnered drug discovery and development,” said Xiling Shen, PhD, Founder and Chief Executive Officer of Xilis. “Our MOS technology is the first end-to-end, high-throughput patient-derived model drug discovery platform to identify drug candidates with a high probability of clinical success.”
The company will use the Series A funding to advance its proprietary MOS platform. This innovative MOS technology is the first truly scalable patient-derived model that recapitulates the tumor microenvironment and immune interactions necessary for next-generation immuno-oncology and cell therapy drug discovery. In addition, the MOS platform can be applied in a clinical setting to aid clinicians to make precision oncology treatment decisions, identifying treatments that lead to the best response for each patient.
“Xilis has pushed forward and achieved meaningful scientific breakthroughs that will change the way cancer drugs are being discovered and how patients are being selected to achieve the most optimal response – realizing the goal of personalized precision oncology,” said Wesley Chan, Co-Founder & Managing Partner of FPV Ventures. “With support from a world-class investor consortium, Xilis is set to continue its efforts in clinical diagnostics and accelerate the company’s growth by expanding its MOS technology into biopharma R&D and drug development.”
Recently, the company announced its participation in the Netherlands-based Oncode-PACT Consortium to accelerate the development of cancer drugs and was selected as the cover article/story in the June issue of the journal Cell Stem Cell highlighting its MOS technology and application in precision oncology.
"Xilis' innovative MOS technology can enable unlocking the full potential of patient-derived microtumors by accelerating their use both in the clinic and for drug discovery and development," said John de Koning, Partner at EQT Life Sciences. "Patients will benefit greatly from Xilis’ precision oncology treatment decisions by avoiding time spent on treatment cycles that are ineffective, and instead, receive therapies with the greatest potential of success quickly and efficiently."
About Xilis
Based in Durham, North Carolina, Xilis, Inc. is a biotechnology company developing a precision oncology platform that guides treatment decisions for oncologists to improve cancer care outcomes for patients and enables drug discovery and development with pharmaceutical companies. Xilis’ proprietary MicroOrganoSphere™ (MOS) technology consists of miniature patient tumors that capture the full microenvironment and heterogeneity and provides an automated and scalable solution. Using MOS and AI-driven algorithms, Xilis is developing a Xilis Response Score™ for the clinic, enabling oncologists to make informed and timely treatment decisions. Additionally, the MOS technology is speeding up the discovery and clinical development of new drug candidates.
To learn more about Xilis, visit our website at Xilis.com or follow us on LinkedIn .
About FPV
FPV is a new $450m fund focused on backing and serving mission-driven founders throughout their entire journey. Founded by Wesley Chan (Founder of Google Analytics and Google Voice) and Pegah Ebrahimi (former COO of Morgan Stanley Tech Banking and COO of Cisco Collaboration), the firm has backed well-known, high-impact startups including Canva, Flexport, Guild Education, Xilis, and Manifold Bio.
About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.
The team combines deep sector knowledge, analytical skills, and investment experience to provide the added value that inventors seek. EQT Life Sciences’ broad life sciences and healthcare network is highly complementary to EQT’s global healthcare sector franchise and makes EQT an even better and more innovative healthcare investor. More info: www.eqtgroup.com/lifesciences
View source version on businesswire.com: https://www.businesswire.com/news/home/20220713005121/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
International Human Rights Lawyer Jared Genser and Former White House Counsel Lanny J. Davis Join Legal and Advocacy Team Supporting Cambodian Businessman Yim Leak, Seiden Law LLP Announces18.9.2026 19:52:00 CEST | Press release
Jared Genser, one of the world's most recognized international human rights lawyers, and Lanny J. Davis, an adviser to former presidents George W. Bush and Bill Clinton, join the legal and advocacy team for Cambodian businessman Yim Leak and challenge what they call a coordinated smear campaign in Thailand. International human rights lawyer Jared Genser and Lanny J. Davis, who has close ties to two former US presidents and a worldwide reputation for defending those under attack with lies and smears, and for repairing the damage done to their reputations, have joined the legal and advocacy team supporting Cambodian businessman Yim Leak, Seiden Law LLP, which serves as Yim Leak's chief global counsel, announced today. Their first move is to hold the Thai government accountable, framing its conduct as either complicit in or willfully blind to a sustained smear campaign against Yim. Genser is Managing Director of Perseus Strategies, an international law firm. Over more than two decades, he
Ningbo FEED Meeting Confirms Full Confidence in Q1 2027 FID for Allied Biofuels’ US$6.1 Billion Presidential Decree-Backed SAF and e-SAF Project18.9.2026 17:38:00 CEST | Press release
Allied Biofuels has held a major Front-End Engineering Design (FEED) meeting at Sinopec’s office in Ningbo, China, bringing together Allied Biofuels, Sinopec Engineering Group Co., Ltd. of China, Topsoe A/S of Denmark, Sasol South Africa Limited, and Plug Power of the United States — the principal international engineering and technology providers supporting its US$6.1 billion Presidential Decree-backed Sustainable Aviation Fuel (SAF) and e-SAF project in Uzbekistan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260918708077/en/ FEED Meeting - Ningbo, China At the joint FEED meeting of the project’s core engineering and technology stakeholders, the discussions established clear alignment on engineering responsibilities, technology interfaces, design deliverables, project integration and the coordinated execution programme required to advance the project through FEED. All stakeholders working on the project expressed full co
Corcept Announces CHMP Opinion Recommending EU Marketing Authorization for Lifyorli® (Relacorilant)18.9.2026 14:00:00 CEST | Press release
Corcept Therapeutics Incorporated (NASDAQ: CORT), a commercial-stage company engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol, today announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has recommended that the European Commission (EC) should approve relacorilant, combined with the chemotherapy drug nab-paclitaxel, for the treatment of patients with platinum-resistant ovarian cancer. The CHMP’s recommendation is based on positive data from Corcept’s Phase 2 and pivotal Phase 3 ROSELLA trials, in which patients receiving relacorilant combined with nab-paclitaxel experienced improved progression-free and overall survival compared to patients who received nab-paclitaxel alone. The safety profile of relacorilant plus nab-paclitaxel in these trials was consistent with the safety profile of nab-paclitaxel monoth
Enhertu® Recommended for Approval in the EU by CHMP as Adjuvant Treatment for Patients with Residual Disease After Neoadjuvant Treatment for HER2 Positive Early Breast Cancer18.9.2026 14:00:00 CEST | Press release
Recommendation based on DESTINY-Breast05 phase 3 trial results that showed Enhertu reduced the risk of invasive disease recurrence or death by 53% versus T-DM1 Daiichi Sankyo and AstraZeneca’s Enhertu has the potential to become a new standard of care in this early breast cancer setting Enhertu® (trastuzumab deruxtecan) has been recommended for approval in the European Union (EU) as a monotherapy for the adjuvant treatment of adult patients with resected HER2 positive breast cancer who have residual invasive disease after neoadjuvant taxane-based and HER2 targeted treatment. Enhertu is a specifically engineered HER2 directed DXd antibody drug conjugate (ADC) discovered by Daiichi Sankyo (TSE: 4568) and being jointly developed and commercialized by Daiichi Sankyo and AstraZeneca (LSE/STO/NYSE: AZN). The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) based its positive opinion on results from the DESTINY-Breast05 phase 3 trial presented at th
CHMP Recommends EU Approval of New Indication for Alfasigma’s Jyseleca® (filgotinib), Treatment of Adults With Axial Spondyloarthritis18.9.2026 12:58:00 CEST | Press release
The information contained within this press release is for the purpose of scientific exchange.It is intended for scientific, financial and investor media only.If approved, Jyselecawill be indicated for the treatment of patients with active axial spondyloarthritis (axSpA), both non-radiographic and radiographic forms of the disease, who have responded inadequately to conventional therapy.Despite the availability of multiple treatment options, nearly half of people living with axSpA do not respond adequately to current therapies, and just 10-20% reach inactive disease within 16-24 weeks of initiating treatment.CHMP’s positive opinion is based on findings from the OLINGUITO Phase 3 study, where improvements in the signs and symptoms of axSpA with filgotinib were observed early and maintained over 52 weeks of treatment.Jyselecais already approved in Europe and the United Kingdom, for the treatment of moderate to severe rheumatoid arthritis and ulcerative colitis. Alfasigma S.p.A, a global
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom