CHICAGO– Xentria Inc., a biotech company focused on developing novel therapeutics to address unmet clinical needs, today announced a $25 million growth equity funding round approved by its Board of Directors and the opening of a new corporate headquarters.
Xentria researches and develops critical therapeutics. Its lead candidate, XTMAB-16, is being evaluated as a potential therapy for patients with sarcoidosis, a chronic, multisystem inflammatory disorder. XTMAB-16, a chimeric monoclonal antibody, may work to disrupt an important inflammatory pathway to help slow or stop granuloma formation in patients with sarcoidosis – a key differentiator for the company.
“This funding round is an important milestone for Xentria as we advance our pipeline and execute against our goal of developing critical therapeutics for patients in need,” said President of Xentria, Tom Shea.
As Xentria continues to advance the development of XTMAB-16, additional funding will allow the company to further strengthen the depth of its scientific and technical leadership and drive the clinical development process forward. XTMAB-16 recently completed a Phase 1 study which characterized pharmacokinetics and safety in healthy volunteers, and previously announced in vitro data that further demonstrated XTMAB-16’s potential ability to suppress granuloma formation in a dose-dependent fashion. Funds will also support next stage clinical development of XTMAB-16, including the launch of a global clinical trial in sarcoidosis expected to initiate in early 2023.
“I am excited about this round of funding and the momentum it will put behind our promising developments to date,” said Kirsten Anderson, Chief Operating Officer at Xentria. “Patients with sarcoidosis have limited treatment options. Expanding our world-class leadership team will ensure we have the right experience and expertise at the helm to support the development of XTMAB-16, effectively moving the needle towards accessible treatment options for people living with sarcoidosis.”
This financial milestone comes as the company unveils its new Chicago headquarters, at 2071 N Southport Ave. It is located adjacent to the exciting new neighborhood to be known as Lincoln Yards which will house other industry-leading companies seeking to develop medical solutions alongside a broader life sciences community.
“Innovation in health care and life sciences is accelerating in Chicago at an unprecedented pace,” said Michael Fassnacht, President & CEO, World Business Chicago, and Chief Marketing Officer, City of Chicago. “We congratulate Xentria for its funding raise and announcement of a new Chicago headquarters adjacent to Lincoln Yards. From the city’s rich ecosystem of world-renowned academic and research institutions, lab space, pharma and our supportive and well-connected ecosystem, Xentria is well-positioned here for incredible success.”
