Xilio Therapeutics (fka Akrevia Therapeutics), a Waltham, MA-based company developing potent, tumor-selective immuno-oncology (IO) therapies for patients with cancer, closed a $100.5m Series B financing.
The round was led by Takeda Ventures, with participation from new investors SV Health Investors, MRL Ventures Fund, RiverVest Venture Partners, Bay City Capital, Solasta Ventures, M Ventures, and Ipsen Ventures, which joined existing investors F-Prime Capital and Atlas Venture in the syndicate. In connection with the closing of the financing, Jayson Punwani, Investment Partner with Takeda Ventures, Mike Ross of SV Health Investors, Peter Dudek of MRL Ventures Fund (the therapeutics-focused venture capital group within Merck), and Nancy Hong of RiverVest Venture Partners each joined the Board of Directors of Xilio.
The company intends to use the funds to progress its first two therapeutic candidates, XTX201 (tumor-selective IL-2) and XTX101 (tumor-selective aCTLA4 mAb) through Investigational New Drug (IND) enabling studies and into Phase 1 clinical trials, as well as advance additional tumor-selective cytokine programs using Xilio’s proprietary technology.
Founded in 2016 and led by Rene Russo, Chief Executive Officer, Xilio Therapeutics is is a biotechnology company developing its proprietary technology to create a new class of ultra-potent IO therapies that are activated selectively within the tumor. These tumor-selective therapies are designed to overcome the significant toxicities associated with validated IO therapies, such as IL-2 and aCTLA4, which have historically limited the number of patients that can be treated and prevented patients from completing full courses of treatment. XTX201 (IL-2) and XTX101 (aCTLA4 mAb) have demonstrated tumor-selective activity in preclinical models, significantly widening the potential therapeutic index for these therapies.