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Xeltis secures additional €12.5 million from European Innovation Council Fund in final close of D2 financing
Funding extends Xeltis’ Series D2 financing round to €44.5 million
EINDHOVEN, The Netherlands – 14 August 2023, Xeltis a leading developer of transformative implants that enable the natural creation of living and long-lasting vessels today announces the closing of an additional €12.5 million in funding from the European Innovation Council (EIC) Fund, set up by the European Commission. Today’s extension from EIC and the closure of the Series D2 financing round announced in February 2023, brings the total amount raised to €44.5 million.
The additional funding will support the continued clinical development of Xeltis’ transformative implants. In April Xeltis shared highly-encouraging 6-month data from its first-in-human (FIH) aXess vascular graft trial (NCT04898153). An ongoing pivotal trial for aXess is enrolling patients across Europe. Moreover, the EIC Accelerator funding will be used to advance Xeltis’ coronary artery bypass graft (CABG) program.
Svetoslava Georgivea, Chair of the EIC Fund Board said: “It is the ambition of the European Innovation Council (EIC) Fund to invest in European companies that develop cutting-edge technologies with high impact. Xeltis, with their restorative medical device technology is an excellent example of such a company, which the EIC Fund invests in to support their potential to scale and grow their business.”
Eliane Schutte, CEO of Xeltis commented: “Securing this additional investment from the EIC is an important validator of Xeltis’ work to enable a better standard of care for patients with major life-threatening diseases through our transformative vascular implants. We look forward to providing updates from our pivotal aXess trial in due course, with enrollment progressing well.”
In December 2021 Xeltis secured €15 million from the EIC Accelerator, part of the European Commission’s Horizon Europe program, following a rigorous selection process. The €15 million consists of a €2.5 million grant and a €12.5 million equity investment through the EIC Fund. The Company is one of a select group of innovative European start-up companies funded under the program to help bring promising technologies to market.
Notes to editors
About the EIC
The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance.
The EIC Fund aims to fill a critical financing gap and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.
The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.
Xeltis is a medtech company developing transformative implants that enable the natural creation of living and long-lasting vessels. Xeltis seeks to address the limitations of currently available options for the millions of people requiring hemodialysis access grafts or cardiovascular replacements every year. The Company’s proprietary endogenous tissue restoration (ETR) platform utilizes an advanced polymer implant which regenerates the patient’s own tissue before gradually being absorbed and leaving new, living and long-lasting vessels in place. Xeltis’ most advanced product currently under clinical development is aXessTM, an implantable blood vessel for hemodialysis vascular access. Xeltis’ groundbreaking technology has high potential to be applied to other major vascular and cardiovascular diseases.
Xeltis is based in The Netherlands and the USA. Its investors include DaVita Venture Group, EQT Life Sciences, Kurma Partners, VI Partners, and Ysios Capital, as well as Grand Pharma Group and several public and private investors.
Eliane Schutte, CEO
Alexander Goemans, CFO
Consilium Strategic Communications
Amber Fennell / Chris Welsh
+44 (0) 20 3709 5700