Press Release March 02, 2020

Akrevia Therapeutics Rebrands as Xilio Therapeutics and Announces $100.5 Million Series B Financing

The Life Sciences team advised Xilio Therapeutics on its $100.5 million Series B financing.

Xilio Therapeutics is a biotechnology company advancing next-generation cancer immunotherapies designed to improve patient outcomes by unleashing the power of the immune system selectively at the site of the tumor. Xilio rebranded from Akrevia Therapeutics, reflecting the company’s evolution from a research-focused organization to a development stage company and its commitment to developing the next generation of ultra-potent IO therapies.

The financing was led by Takeda Ventures, Inc. with new investors SV Health Investors, MRL Ventures Fund, RiverVest Venture Partners, Bay City Capital, Solasta Ventures, M Ventures, and Ipsen Ventures joining existing investors F-Prime Capital and Atlas Venture in the syndicate.

Proceeds from the financing will be used to progress Xilio’s first two therapeutic candidates, XTX201 (tumor-selective IL-2) and XTX101 (tumor-selective aCTLA4 mAb) through Investigational New Drug (IND) enabling studies and into Phase 1 clinical trials, as well as advance additional tumor-selective cytokine programs using Xilio’s proprietary technology.

The Goodwin team was led by Kingsley Taft and Laurie Burlingame, and included Timothy Wright and Joshua Tarr (corporate), Dan Karelitz and Jonathan LaPlante (tax).

For more details, read the press release and articles in Reuters, Endpoints and Boston Business Journal.