Xontogeny, LLC, a Boston, MA-based new life sciences accelerator operating company focused on the early development of pharmaceuticals and other technologies, closed a $15m tranche of a $25m Series A financing.
Perceptive Advisors was the exclusive institutional investor in the Series A financing and will be represented on Xontogeny’s Board of Directors by Joseph Edelman, Chief Executive Officer, and Adam Stone, Chief Investment Officer.
The company intends to use the funds to manage operations, build its team of experts, and advance early stage development of life science products in its portfolio companies.
Founded by industry veteran Chris Garabedian, who will serve as Chairman and CEO, Xontogeny is assembling a senior team of life science professionals with deep experience in drug development to advance a select portfolio of product candidates and technologies in ventures that are focused across a number of serious disease areas from preclinical through clinical proof-of-concept studies.
Mr. Garabedian will partner with portfolio companies by serving as an active mentor and advisor to the CEOs in the role as Executive Chair or as an active member of the Board of Directors. In addition, founding scientists and entrepreneurs will work alongside Xontogeny’s leadership team and its network of advisors and service providers.
The accelerator will further support the management of these companies by providing expertise and strategic direction across preclinical and clinical development and program management, while enabling a lean and efficient infrastructure until a program is further de-risked.