Xeltis has raised €32 million in a Series D2 equity fundraise, backed by a syndicate of current and new investors, which the company says will enable it to progress its clinical programmes into pivotal trials.
Investors include Grand Pharma, DaVita Venture Group, EQT Life Sciences, Invest-NL and others.
Xeltis’ proprietary endogenous tissue restoration (ETR) platform utilises 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.
The company’s most advanced program, aXess, is a vascular access graft for patients with chronic kidney disease (CKD) requiring haemodialysis. Xeltis is also pursuing clinical programmes in pulmonary valve replacement and coronary artery bypass grafts.
Alongside the equity fundraise, Xeltis and Grand Pharma have completed a license deal, covering Greater China, for aXess and other potential haemodialysis products developed under the same technology platform. Under the agreement, Grand Pharma will have exclusive rights to develop, produce and commercialise these products in Greater China.
“The strategic support of Grand Pharma and DaVita alongside our existing investor base represents a strong validation of our technology and potential to transform the landscape of cardiovascular surgery. We remain focused on progressing our aXess clinical trials, as well as exploring our next steps in other indications,” commented Eliane Schutte, CEO of Xeltis. “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.”