XyloCor Therapeutics, a Malvern, Pa.-based private clinical-stage biopharmaceutical company focused on the development of gene therapy for the significant unmet patient needs in advanced coronary artery disease, closed an additional $22.6m financing.
The round was led by Fountain Healthcare Partners with participation from new investors Longwood Fund and Lumira Ventures and existing investors Sofinnova Investments and LSP (Life Sciences Partners). Aidan King, managing partner and co-founder, Fountain Healthcare Partners, joined XyloCor’s board of directors along with Daniel Hétu, M.D., managing director, Lumira Ventures, and Perry Nisen, M.D., Ph.D., executive partner, Sofinnova Investments. Alan Colowick, M.D., MPH, will now serve an independent board member of XyloCor.
The company intends to use the funds to expand its clinical development program for XC001, an investigational gene therapy designed to promote the growth of new blood vessels in the heart, with these new blood vessels bypassing diseased blood vessels and improving blood flow in the heart.
Co-founded by Ronald Crystal, MD, and Todd Rosengart, MD, and led by Al Gianchetti, president and chief executive officer, XyloCor Therapeutics is a biopharmaceutical company focused on the development of novel gene therapy for unmet needs in advanced coronary artery disease. The company’s lead product candidate, XC001, is in clinical development to investigate use for patients with refractory angina for which there are no treatment options. XyloCor also has a second preclinical investigational product, XC002, in discovery stage, being developed for the treatment of patients with cardiac tissue damage from heart attacks.