The company has secured a private placement, to existing and new investors, led by Flerie Invest AB.
The purpose of the issue is primarily to finance the company’s clinical development in multiple myeloma and other indications. The company’s lead investigational candidate drug is currently being evaluated in combination with Sanofi’s anti-CD38 antibody Sarclisa (Isatuximab) in a Phase II clinical study in multiple myeloma.
“This substantial fundraising is an important milestone for XNK. It allows us to accelerate our global growth initiatives and invest in the further development of our product portfolio in multiple myeloma and other cancer indications, such as our ongoing proof of concept study in acute myeloid leukemia (AML) using patient samples from the University of Texas MD Anderson Cancer Center,” says Johan Liwing, CEO of XNK Therapeutics.
Flerie Invest becomes the largest owner
Flerie Invest led the financing by placing 100 million SEK and thus gains approximately 22 percent of the total number of shares and votes in the company becoming XNK’s largest owner. Ted Fjällman, partner at Flerie Invest, will as a result of the investment join the board of directors.
“XNK Therapeutics and the innovation ecosystem around Karolinska University Hospital in Stockholm have long been at the forefront of clinical cell therapy development,” says Ted Fjällman. “We’re excited to lead this round and use our network to further commercialize the company and in so doing bring cell therapies to more patients.”
Photo of Johan Liwing: XNK Therapeutics