Xeltis receives series D2 investments to advance Xeltis’ aXess vascular access graft into pivotal clinical trials.
Amsterdam, The Netherlands – 21 February, 2023, EQT Life Sciences today announced that its portfolio company Xeltis has raised €32 million in a Series D2 equity fundraise. Xeltis is a Dutch clinical stage medtech company developing living implants that enable the body to restore cardiovascular function.
EQT Life Sciences joined a syndicate of current and new investors including Grand Pharma, DaVita Venture Group, Invest-NL and other international investors. The current fundraising round will enable Xeltis to progress its key clinical programs into pivotal trials, as it aims to give patients around the world access to the world’s most advanced restorative cardiovascular devices. EQT Life Sciences has invested in Xeltis with the first LSP Health Economics Fund and with LSP Health Economics Fund 2.
Xeltis’ breakthrough technology is focused on restoring the body’s natural cardiovascular functions, with numerous potential applications. The Company’s proprietary endogenous tissue restoration (ETR) platform utilizes an advanced polymer-based material which triggers the body’s natural healing response to regenerate the patient’s own tissue around it, forming new, living and long-lasting vessels and valves.
Xeltis’ most advanced program, aXess, is a vascular access graft for patients with chronic kidney disease (CKD) requiring hemodialysis. In-human clinical trial data from the Company’s ongoing aXess studies have been very encouraging. The Company is also pursuing clinical programs in pulmonary valve replacement and coronary artery bypass grafting.
Alongside the equity fundraise, Xeltis and Grand Pharma have completed a license deal, covering Greater China, for aXess and other potential hemodialysis products developed under the same technology platform. Under the agreement, Grand Pharma will have exclusive rights to develop, produce and commercialize these products in Greater China.
“Securing this financing is an important milestone for Xeltis. We are proud to have attracted such high-profile investors to our company and look forward to leveraging their respective insights – from clinical expertise to the product development lifecycle – as we continue on the next phase of growth, commented Eliane Schutte, CEO of Xeltis. We remain focused on progressing our aXess clinical trials, as well as exploring our next steps in other indications.”
“Xeltis’ aXess product is overcoming the current limitations of access grafts for patients undergoing hemodialysis. The company is rapidly advancing its clinical program. The results so far have been excellent and, together with the two other clinical programs, are the reason for our continued support”, said Ruben Osnabrugge, director at EQT Life Sciences.
As part of the transaction, Ruben Osnabrugge will join the Board of Directors as an observer, joining Clemens van Blitterswijk who has already been a board member representing EQT Life Sciences since the initial investment of the LSP Health Economics Fund.
About Chronic Kidney Disease
Chronic Kidney Disease (CKD) affects nine percent of the population, with growing prevalence due to cardiovascular disease (diabetes, hypertension, obesity). Patients with CKD have a reduced quality of life due to living with significant constraints and restrictions brought on by disease related manifestations and side effects of treatments. Each year, three million patients with chronic kidney disease need hemodialysis and require vascular access to connect to a dialysis machine.
Xeltis is an advanced medtech company developing next generation implants that naturally integrate into the body to restore and sustain vascular and valve function. Xeltis’ products seek to address the limitations of currently available options for the millions of people requiring access grafts or cardiovascular replacements every year. The Company’s proprietary endogenous tissue restoration (ETR) platform utilizes an advanced polymer-based material which triggers the body’s natural healing response to regenerate the patient’s own tissue around it, before gradually being absorbed and leaving new, living and long-lasting vessels and valves in place. Xeltis’ restorative devices include implantable small diameter blood vessels for hemodialysis vascular access (aXess), currently in pivotal clinical trials, and for coronary artery bypass graft (CABG) surgery (XABG), as well as a pulmonary heart valve.
About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare 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.
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