2024-02-07 07:20Press release

Xinnate secures 8,9 million Euro in Financing and Applies for a Patent for the Treatment of Epidermolysis Bullosa

Professor Artur Schmidtchen and Helene HartmanProfessor Artur Schmidtchen and Helene Hartman

Lund, Sweden – The pharmaceutical development company Xinnate has successfully raised 8,9 million Euro (100 million SEK) in a new share issue to continue the development of its drug for topical treatment of serious inflammatory skin conditions and difficult-to-heal wounds. Simultaneously, the company has submitted a patent application for the treatment of the severe and rare disease Epidermolysis Bullosa (EB). Xinnate is an alumni company of SmiLe Incubator.

Xinnate conducted a new share issue of 100 million SEK from private investors last year. The funding enables an upcoming phase-2 study for the company's first drug — a gel for topical treatment of dysfunctional healing in wounds or inflammatory skin conditions. A phase-1 study in three parts is currently underway, including one part with patients suffering from the rare and severe disease Epidermolysis Bullosa. Planning for a multi-site phase-2 study with EB patients is ongoing.

A patent application for the treatment of EB has been submitted, and the application includes data from the company's ongoing clinical phase-1 study.

EB is caused by a genetic mutation resulting in extremely fragile and heavily inflamed skin, leading to painful and recurrent sores on significant parts of the body. The occurrence of aggressive skin cancer and sepsis limits the expected lifespan of affected children.

Xinnate's unique drug candidate is based on groundbreaking technology with immunomodulating peptides that target dysfunctional healing by controlling the presence of microbes and the complex interplay of inflammatory reactions.

The technology is based on Professor Artur Schmidtchen's over 20-year research at Lund University. Professor Artur Schmidtchen and his team have studied healing mechanisms and discovered a multifunctional peptide, TCP-25, which has been shown to play a crucial role in the healing process and is now being developed into a drug.

"It is incredibly powerful that we can support the patent application with existing results from our clinical study. We aim to develop a drug that reduces harmful inflammation, improves the healing process, and reduces the risk of serious complications, says Helene Hartman," CEO of Xinnate.

 

For more information, contact:
Helene Hartman, CEO of Xinnate,
Phone: +46 72-512 03 12
Email: Helene.hartman@xinnate.com
https://xinnate.com/

About the capital raise
Capital raising was managed by S.A.B Corporate Finance in collaboration with Jensen Corporate Finance.

About Xinnate
Xinnate is a pharmaceutical development company in Lund, Sweden developing novel, pharmaceutical therapies based on a technology of innate peptides targeting dysfunctional healing by controlling presence of microbials and the complex interplay of inflammatory responses. Xinnate runs an ambitious development program to transform lives for patients with high unmet medical need in inflammatory skin conditions, wounds and surgical procedures. The company´s first line of pharmaceutical therapies are based on TCP-25, a  synthetically manufactured peptide that regulates inflammation and controls microbial influence in inflammatory skin conditions, wounds and surgical procedures. 
    Xinnate was founded in 2019 by Professor Artur Schmidtchen, MD,Ph.D, after discovering thrombin-derived endogenous peptides and their functions in control of infection and excessive inflammation.  
    Today, Xinnate runs an ambitious research and clinical program for TCP25 including a clinical study in phase 1b in patients with Epidermolysis bullosa (EB). Late-stage clinical development and commercialization will take place in partnership with one or more leading pharmaceutical companies.


Language: English

About SmiLe Incubator

SmiLe Incubator is a life science business incubator based in Medicon Village in Lund, Sweden. SmiLe offers business coaching, a broad international industry and investor network and a unique laboratory infrastructure with state-of-the art instrumentation. Since the start, SmiLe has helped 100+ entrepreneurs commercialize their business ideas. Currently there are some 30 companies in SmiLe incubator which, together with alumni companies, have attracted more than EUR 805 million in venture capital since 2014. To date, 21 of SmiLe´s companies have launched an IPO. SmiLe is a non-profit organization and receives basic funding from Region Skåne, Lund Municipality, Lund University and Medicon Village. SmiLe´s sponsors are Agilent, Sparbanken Skåne, Høiberg, Magle Chemoswed, Merck, Setterwalls, Zacco, Phase Holographic Imaging and ChemoMetec. www.smileincubator.life