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
Fuji Electric Joins Helical Fusion as Strategic Investor and Official Partner as Series B Second Close Raises JPY 3.23 Billion8.10.2026 02:00:00 CEST | Press release
Major Japanese industrial players join Helical Fusion as construction of Helix HARUKA advances through a public-private partnership spanning government, national research infrastructure, and Japan’s manufacturing sector Helical Fusion Co., Ltd., a fusion energy company developing a Helical Stellarator with the goal of achieving commercially viable fusion power in the 2030s, today announced the completion of a JPY 3.23 billion (approximately USD 20.6 million) Series B second close. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007813917/en/ Helical Fusion and new investors for the Series B 2nd close The round marks another expansion of the industrial coalition forming around Helical Fusion’s Helix Program. Fuji Electric Co., Ltd., one of Japan’s major electrical and industrial equipment manufacturers, has joined Helical Fusion as both an investor and an Official Partner of the Helix Program. Other new investors in the sec
New INRIX Parking Scorecard Reveals Cities with the Most Parking, Highest Prices, and Lowest Availability7.10.2026 22:16:00 CEST | Press release
The Scorecard analyzes more than 120 downtown areas across North America and Europe, comparing parking availability, prices and curb use policies INRIX, a leader in transportation analytics and mobility intelligence, today released its first-ever INRIX Parking Scorecard, the largest comparative analyses of downtown parking conditions across North America and Europe. Drawing on parking availability, curb regulations, pricing data and parking infrastructure from more than 120 downtown areas in 14 countries, the report reveals significant differences in parking conditions and how cities allocate curb space. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007322796/en/ New INRIX Parking Scorecard: Where Downtown Parking Costs Most The Scorecard examines parking availability: the probability of finding a parking space alongside on-street and off-street parking pricing, and curb use policies. The findings show that parking condi
Lattice Collaborates with Arm to Advance Secure, Adaptable AI Data Center Infrastructure7.10.2026 22:00:00 CEST | Press release
Lattice Semiconductor (NASDAQ: LSCC), the low power programmable and platform firmware leader, today announced a collaboration with Arm to enable secure control, management, and platform adaptability for AI infrastructure. Combining Arm® AGI CPU server platforms with Lattice FPGAs and AMI firmware creates a solution that provides advanced security, manageability, connectivity, and flexibility for next-generation AI data center infrastructure. In Arm AGI CPU server platforms, Lattice FPGAs work alongside the CPU and baseboard management controller, with AMI firmware providing platform boot and management capabilities. The Lattice FPGAs act as companion chips providing secure control and management capabilities, enabling platform trust, connectivity, and infrastructure adaptability. Lattice FPGA technology also enables Open Compute Project (OCP)-compliant connectivity between the Host Processor Module (HPM) and Datacenter Secure Control Module (DC-SCM) through the LVDS Tunneling Protocol
Bentley Systems Announces Winners of the 2026 Year in Infrastructure Awards7.10.2026 19:55:00 CEST | Press release
New cycle of AI-enabled innovation is helping engineers solve harder problems faster (The Bentley Systems 2026 Year in Infrastructure Event) – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced the winners of the 2026 Year in Infrastructure Awards. For more than 20 years, the awards have honored the extraordinary work of infrastructure professionals and their innovative use of Bentley software to improve how infrastructure is designed, built, and operated. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261007964087/en/ Bentley Systems announced the winners of the 2026 Year in Infrastructure Awards on October 7, 2026 (Photo courtesy of Bentley Systems) In 2026, over 300 projects were nominated by organizations in 53 countries. Winners were selected across 12 categories spanning the infrastructure lifecycle, industries, and disciplines by a panel of independent judges
Day One Strategy Founders Recognised in The LDC Top 50 Most Ambitious Business Leaders for 20267.10.2026 19:00:00 CEST | Press release
Hannah Mann and Abigail Stuart, Co-Founders of Day One Strategy have been recognised as one of The LDC Top 50 Most Ambitious Business Leaders for 2026. The programme was created by private equity investor LDC, part of Lloyds Banking Group, in partnership with The Times. Since 2018, it has celebrated the ambition and achievements of hundreds of exceptional entrepreneurs. This year The LDC Top 50 attracted more than 620 nominations from across the UK, highlighting the depth of ambition among leaders building successful businesses in every region and sector. The leaders featured are driven by an appetite for growth that is helping to build stronger, more sustainable businesses and a more competitive UK economy. They are expanding internationally, developing new products and services, challenging established markets and investing in their people. Together, their businesses generate £1.4bn in annual revenues and employ almost 8,500 people. Headquartered in 55 towns and cities, they demonstr
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