Mubadala Capital-backed oncology biotech adds more cash to Series A; Optinose shares pooled data on nasal spray
Looking for a new way to redefine precision oncology by using patient tumor tissue grown in a petri dish, a North Carolina biotech backed by blue-chip investors is adding more to its coffers.
Backed by sovereign wealth fund Mubadala Capital, Xilis put out word Wednesday that it added $19 million more to its Series A round, originally worth $70 million and announced back in 2021. So far, the funds will be used to advance its platform — which essentially entails that by taking a piece of tumor tissue from a patient and growing it in a petri dish, founder and CEO Xiling Shen told Endpoints News last year that researchers can test thousands of therapies or drug combinations to see how the tumor might react.
As an added benefit, the company can also get clinician input on how they’d prefer to treat their patients.
Funders on this extension include lead investor FPV Ventures, bringing along several previous backers such as Mubadala Capital, EQT, GV, and Catalio.
“Despite unprecedented market conditions in the biotech sector, we raised this extension at a step-up valuation and from several of the most reputable global investors,” Shen said in a statement. — Paul Schloesser
Optinose drops more data to support upcoming FDA filing for expanded nasal spray indication
Earlier this year, Optinose celebrated two Phase III wins for its nasal polyps treatment, marketed as Xhance, in chronic sinusitis.
Today, the Yardley, PA-based biotech unveiled pooled analysis of its two chronic sinusitis Phase III trials suggesting that patients who used the nasal spray twice a day saw their number of exacerbations go down by two-thirds compared to placebo.
An approval in chronic sinusitis, in which sinus inflammation lingers over a long period of time, would expand Optinose’s market — currently just patients with nasal polyps — by 10 times.
The first Phase III trial looked at patients with both chronic sinusitis and nasal polyps, but the second trial, which Optinose read out in June, included only patients without nasal polyps, who represent a larger share of the chronic sinusitis population.
Optinose CEO Peter Miller previously said the company was looking to file an sNDA by the end of 2022. — Lei Lei Wu