NC-XILIS-INC
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
FIA, Formula 1 Group and All 11 Race Teams Officially Sign the Ninth Concorde Agreement, Securing Strength and Stability for the Sport in Pivotal Five-Year Agreement12.12.2025 17:10:00 CET | Press release
Multi-year Concorde Governance Agreement signed by the FIA, Formula 1 Group and all 11 teams, securing the World Championship through 2030 Paves the way for a more professionalised sport and represents a new era of collaboration between the FIA and Formula 1 Group Long-term commitment enhances sporting reliability, global reach and stability for teams, fans and broadcasters The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, and Formula 1 Group, the Commercial Rights Holder, have today announced the signing of the Concorde Governance Agreement, a crucial contract defining the regulatory framework and governance terms of the FIA Formula One World Championship until 2030. This follows the announcement in March that the 2026 Commercial Concorde Agreement had been signed by all the teams and Formula 1 Group. Together, these agreements constitute the ninth Concorde Agreement, representing a m
Anabranch Capital Management, LP supports relisting of SmartCraft ASA to Nasdaq Stockholm12.12.2025 16:26:00 CET | Press release
Reference is made to the stock exchange announcement by SmartCraft ASA ("SmartCraft" or the "Company") on 1 December 2025 regarding the contemplated relisting of SmartCraft from Euronext Oslo Børs to Nasdaq Stockholm (the "Relisting") and the announcement of a cross-border merger to effect the Relisting. Funds managed by Anabranch Capital Management, LP (“Anabranch”) intend to vote in favour of the merger plan resolved by the boards of SmartCraft and its Swedish wholly owned subsidiary, SmartCraft Group AB (publ), to effect the Relisting at the Company's extraordinary general meeting planned for January 2025 (the "EGM"). Anabranch intends to vote with all Anabranch shares held at the Record Date for the EGM in favour of the relisting effected by the merger plan. Funds managed by Anabranch currently hold approximately 15.9 million shares in SmartCraft. Disclaimer: The views expressed are those of the authors and Anabranch Capital Management, LP as of the date referenced and are subject
Mohammed Ben Sulayem Re-Elected as President of the FIA12.12.2025 15:49:00 CET | Press release
The Fédération Internationale de l’Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, today confirms that Mohammed Ben Sulayem has been re-elected as President of the FIA, following the election of his Presidential List by the General Assembly in Tashkent, Republic of Uzbekistan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251212213181/en/ President Mohammed Ben Sulayem now begins his second four-year term, having overseen a period of significant renewal and stabilisation for the organisation since his initial election in 2021. Over the past four years, the FIA has undergone a wide-ranging transformation, improving governance, operations and restoring the financial health of the federation. These changes have strengthened the FIA’s position as the world’s governing body for motorsport and the leading authority on safe, sustainable, and affordable mobility.
Perma-Pipe International Holdings, Inc. Announces Third Quarter 2025 Financial Results12.12.2025 15:00:00 CET | Press release
Net sales of $61.1 million for the quarter and $155.8 million year-to-date.Income before income taxes of $10.9 million for the quarter and $21.1 million year-to-date.Diluted earnings per share of $0.77 for the quarter and $1.49 year-to-date.Backlog of $148.9 million at October 31, 2025, up from $138.1 million at January 31, 2025. Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2025. “For the three months ended October 31, 2025, net sales were $61.1 million, an increase of $19.5 million, or 46.9%, compared to $41.6 million in the same quarter of the prior year. Growth was driven by higher sales volumes in both the Middle East and North America. Gross profit was $21.0 million, up $6.9 million from $14.1 million last year, reflecting higher activity levels. Selling, general and administrative expenses increased to $8.3 million from $7.3 million, primarily due to higher payroll and professional fees, including
Capcom’s All-new IP PRAGMATA to Launch on April 24, 2026!12.12.2025 15:00:00 CET | Press release
– The title is now also coming to Nintendo Switch 2; a PC demo releases today – Capcom Co., Ltd. (TOKYO:9697) today announced that sci-fi action-adventure game PRAGMATA, a completely new IP, is scheduled for release on April 24, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251212791950/en/ PRAGMATA Key Art PRAGMATA is a new type of sci-fi action-adventure game mixing puzzle and action elements. In the game, which takes place on the moon in a near-future world, the spacesuit-clad Hugh and android girl Diana cooperate while fighting their way back to Earth. By bringing the title to Nintendo Switch™ 2 in addition to PlayStation®5 system, Xbox Series X|S and PC, Capcom looks to further advance its multi-platform strategy and expand its user base. Moreover, a playable demo of the game will be released first on PC starting today, December 12, to further convey the appeal of the title. The company hopes that players look fo
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