Eindhoven-headquartered Xeltis, a MedTech enterprise in the clinical stage, revealed its accomplishment of securing €12.5 million in funding courtesy of the European Innovation Council (EIC) Fund. This notable injection pushes the total raised capital to €44.5 million.
The declaration follows a mere five months after amassing €32 million in a Series D2 equity funding round, orchestrated by a coalition of both existing and novel investors. This amalgamation included notable names such as Grand Pharma, DaVita Venture Group, EQT Life Sciences, Invest-NL, and a consortium of international backers.
With this fresh infusion, the Dutch firm has outlined its intention to sustain the clinical evolution of its revolutionary implants. A pivotal moment transpired in April, as Xeltis unveiled 6-month data derived from its groundbreaking first-in-human (FIH) aXess vascular graft trial (NCT04898153). At present, the company is orchestrating an ongoing pivotal trial for aXess, attracting patient participation from across Europe.
The financial backing from the EIC Accelerator will additionally fuel the advancement of Xeltis’ coronary artery bypass graft (CABG) initiative.
Eliane Schutte, the CEO of Xeltis, expressed her perspective, stating, “Securing this supplementary investment from the EIC stands as a noteworthy validation of Xeltis’ tireless efforts in elevating the standard of care for individuals grappling with severe, life-threatening illnesses through our groundbreaking vascular implants. Anticipating forthcoming updates from our pivotal aXess trial, enrollment is on a positive trajectory.”
Emerging from the fusion of two university spin-offs, one Dutch and the other Swiss, Xeltis embodies a pioneering medtech entity dedicated to the development of implants seamlessly harmonizing with the human body. These innovative implants facilitate the restoration and perpetuation of vascular and valve functionality.
The bedrock of Xeltis’ prowess lies in its exclusive Endogenous Tissue Restoration (ETR) platform. This innovation revolves around an advanced polymer-based substance engineered to trigger the body’s innate healing mechanisms, prompting the regeneration of surrounding tissue. In this intricate dance, the material fosters the emergence of fresh, living vessels and valves that endure over time.
In tandem with its flagship aXess project, presently navigating pivotal clinical trials, Xeltis is vigorously advancing parallel clinical initiatives in both pulmonary valve replacement and coronary artery bypass grafts.
About the Investor
The European Commission‘s European Innovation Council Fund stands as an unbiased financial entity, extending its investments across a spectrum of technologies and sectors, encompassing all European Union nations and countries associated with Horizon Europe. It constitutes the investment facet of the EIC Accelerator blended finance initiative.
Svetoslava Georgivea, at the helm of the EIC Fund Board, underscores, “The EIC Fund aspires to invest in European enterprises that forge ahead with pioneering technologies yielding substantial impact. Xeltis, marked by their groundbreaking restorative medical device technology, serves as an exemplary illustration of such an enterprise that the EIC Fund invests in, aiming to nurture their potential for expansive growth and advancement.”