Latest news with #FrazierLifeSciences
Yahoo
4 days ago
- Business
- Yahoo
Xilio Therapeutics Announces Closing of $50.0 Million Public Offering
Total gross proceeds of up to $150.0 million before the end of 2026 if all Series B warrants and Series C warrants are exercised for cash Xilio may elect to cancel unexercised Series B or Series C warrants proportionately to the amount of non-dilutive capital received, under certain circumstances Financing co-led by new investors Coastlands Capital and Frazier Life Sciences and included participation from Gilead Sciences, Inc., Logos Capital, Samsara BioCapital and other new and existing investors WALTHAM, Mass., June 05, 2025 (GLOBE NEWSWIRE) -- Xilio Therapeutics, Inc. (Nasdaq: XLO), a clinical-stage biotechnology company discovering and developing tumor-activated immuno-oncology therapies for people living with cancer, today announced the closing of its previously announced underwritten public offering of pre-funded warrants and accompanying common stock warrants for initial gross proceeds of approximately $50.0 million before deducting underwriting discounts and commissions and offering expenses. In addition, if all of the Series B warrants and Series C warrants are exercised in cash at their exercise price of $0.75 per warrant, Xilio would receive up to $100.0 million of additional gross proceeds by the second half of 2026, for total gross proceeds of up to $150.0 million before deducting underwriting discounts and commissions and offering expenses. The financing was co-led by new investors Coastlands Capital and Frazier Life Sciences and included participation from Gilead Sciences, Inc., Logos Capital, Samsara BioCapital and other new and existing institutional investors. Overview of Pre-Funded Warrants and Common Stock Warrants In connection with the offering, Xilio issued pre-funded warrants to purchase 66,676,000 shares of common stock (the 'pre-funded warrants'), accompanied by Series A warrants to purchase 66,676,000 shares of common stock (or, in certain circumstances, pre-funded warrants) (the 'Series A warrants'), Series B warrants to purchase 66,676,000 shares of common stock (or, in certain circumstances, pre-funded warrants) (the 'Series B warrants') and Series C warrants to purchase 66,676,000 shares of common stock (or, in certain circumstances, pre-funded warrants) (the 'Series C warrants'). The combined public offering price of one pre-funded warrant, one Series A warrant, one Series B warrant and one Series C warrant, which were sold together but are immediately separable, is $0.7499, which is equal to the combined offering price of the pre-funded warrants, Series A warrants, Series B warrants and Series C warrants, less the $0.0001 per share exercise price of the pre-funded warrants. The offering closed on June 5, 2025, and all of the warrants were sold by Xilio. The pre-funded warrants and Series A warrants may be exercised for cash or on a net exercise or 'cashless' basis, and the Series B warrants and Series C warrants may be exercised for cash or on a net exercise or 'cashless' basis provided there is no effective registration statement or prospectus available which covers the Series B warrants and Series C warrants and shares of common stock issuable upon exercise of the Series B warrants and Series C warrants. The Series B warrants are exercisable at an exercise price of $0.75 per share of common stock between November 1, 2025 and December 2, 2025, subject to the terms of the warrant. If all of the Series B warrants are exercised for cash at their exercise price, Xilio would receive up to $50.0 million in additional gross proceeds before the end of 2025. The Series C warrants are exercisable at an exercise price of $0.75 per share of common stock between June 1, 2026 and December 2, 2026, subject to the terms of the warrant. If all of the Series C warrants are exercised for cash at their exercise price, Xilio would receive up to $50.0 million in additional gross proceeds before the end of 2026. In addition, for each dollar of non-dilutive capital received by Xilio prior to the exercise or expiration of the Series B and Series C warrants, Xilio may elect to cancel a number of warrant shares equal to $1.00 divided by the $0.75 warrant exercise price (or one and one-third warrants) without any compensation paid by Xilio to the warrant holders. For example, if Xilio received $30.0 million in non-dilutive capital, it could elect to cancel 40.0 million of warrant shares. Xilio intends to use the net proceeds received from the offering to advance the development of its product candidates and for working capital requirements and other general corporate purposes. Leerink Partners acted as the sole bookrunner for the offering. A shelf registration statement on Form S-3 (File No. 333-285703), as amended, relating to the securities to be offered in the public offering was initially filed with the Securities and Exchange Commission (the 'SEC') on March 11, 2025, and declared effective on May 8, 2025. The offering was made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A final prospectus supplement relating to the offering has been filed with the SEC and may be obtained for free by visiting the SEC's website at Copies of the preliminary prospectus supplement and final prospectus supplement relating to the offering may also be obtained by contacting Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@ This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Xilio Therapeutics Xilio Therapeutics is a clinical-stage biotechnology company discovering and developing tumor-activated, or masked, immuno-oncology (I-O) therapies with the goal of significantly improving outcomes for people living with cancer without the systemic side effects of current I-O treatments. The company is leveraging its proprietary platform to advance a pipeline of novel, tumor-activated I-O molecules that are designed to optimize the therapeutic index by localizing anti-tumor activity within the tumor microenvironment. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding the use of proceeds of the offering. The words 'aim,' 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'plan,' 'anticipate,' 'intend,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'continue,' 'seek,' 'target' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of important risks, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release. These and other risks and uncertainties are described in greater detail in the sections entitled 'Risk Factor Summary' and 'Risk Factors' in Xilio's filings with the SEC, including Xilio's most recent Quarterly Report on Form 10-Q and any other filings that Xilio has made or may make with the SEC in the future. Any forward-looking statements contained in this press release represent Xilio's views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Except as required by law, Xilio explicitly disclaims any obligation to update any forward-looking statements. Investor and Media Contact Scott YoungVice President, Investor Relations and Corporate Communicationsinvestors@
Yahoo
27-05-2025
- Business
- Yahoo
Lexeo Therapeutics Announces $80 Million Equity Financing to Further Advance Development of Transformative Genetic Medicines for Cardiovascular Diseases
Cash runway extended into 2028; capital proceeds to fund operations through potential 2027 efficacy readout for LX2006 in Friedreich ataxia cardiomyopathy Financing led by Frazier Life Sciences and Janus Henderson Investors with participation from new and existing investors NEW YORK, May 27, 2025 (GLOBE NEWSWIRE) -- Lexeo Therapeutics, Inc. (Nasdaq: LXEO), a clinical stage genetic medicine company dedicated to pioneering novel treatments for cardiovascular diseases, today announced it has entered into a securities purchase agreement with a select group of institutional and healthcare accredited investors to issue and sell an aggregate of 20,790,120 shares ('Shares') of its common stock ('Common Stock') or, in lieu thereof, to certain investors, pre-funded warrants ('Pre-Funded Warrants') to purchase 6,963,556 shares of Common Stock, in a private placement. Each full Share (or Pre-Funded Warrant in lieu thereof) will be accompanied by a warrant (a 'Common Warrant') to purchase one-half of a share of Common Stock. The purchase price for each Share and accompanying Common Warrant will be $2.8825 (or $2.8824 for each Pre-Funded Warrant and accompanying Common Warrant). Lexeo anticipates the gross proceeds from the private placement to be approximately $80 million, before deducting any offering related expenses. The private placement is expected to close on May 28, 2025, subject to customary closing conditions. The Pre-Funded Warrants will have an exercise price of $0.0001 per share until exercised in full, and the Common Warrants will have an exercise price of $2.82 per share and expire on May 28, 2029. The private placement was co-led by Frazier Life Sciences and Janus Henderson Investors with participation from new and existing investors, including Adar1 Capital Management, Affinity Healthcare Fund, LP, Ally Bridge Group, Coastlands Capital, Surveyor Capital (a Citadel company), Vestal Point Capital, and Woodline Partners LP. 'This financing will enable Lexeo to build on its leadership in cardiac genetic medicines as we continue to advance our clinical stage pipeline,' said R. Nolan Townsend, Chief Executive Officer of Lexeo Therapeutics. 'With the support of an exceptional group of new and existing long-term investors, we believe we remain well-positioned to accelerate development of our programs and drive innovation with next-generation therapies that could redefine the treatment paradigm for devastating cardiovascular conditions.' J.P. Morgan and Oppenheimer & Co. acted as co-lead placement agents for the transaction. Baird also acted as placement agent. Lexeo intends to use net proceeds from the private placement to fund advancement of ongoing clinical stage programs, and for working capital and general corporate purposes. The proceeds from this private placement, combined with current cash, cash equivalents and marketable securities are expected to fund Lexeo's operating and capital expenditures into 2028. The securities to be sold in this private placement have not been registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state or other applicable jurisdiction's securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions' securities laws. Concurrently with the execution of the securities purchase agreement, Lexeo and the investors entered into a registration rights agreement pursuant to which the company has agreed to file a registration statement with the U.S. Securities and Exchange Commission (the 'SEC') registering the resale of the Shares and Common Stock underlying the Pre-Funded Warrants and Common Warrants(together, the 'Warrant Shares') sold in the private placement. Any offering of the Shares and Warrant Shares under the resale registration statement will only be made by means of a prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Company's securities, nor shall there be any offer, solicitation, or sale of the Company's securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The private placement is being conducted in accordance with applicable Nasdaq rules and was priced to satisfy the 'Minimum Price' requirement (as defined in the Nasdaq rules). About Lexeo TherapeuticsLexeo Therapeutics is a New York City-based, clinical stage genetic medicine company dedicated to reshaping heart health by applying pioneering science to fundamentally change how cardiovascular diseases are treated. The Company is advancing a portfolio of therapeutic candidates that take aim at the underlying genetic causes of conditions, including LX2006 for the treatment of Friedreich ataxia (FA) cardiomyopathy, LX2020 for the treatment of plakophilin-2 (PKP2) arrhythmogenic cardiomyopathy, and others for devastating diseases with high unmet need. Cautionary Note Regarding Forward-Looking StatementsCertain statements in this press release may constitute 'forward-looking statements' within the meaning of the federal securities laws, including, but not limited to, statements regarding the expected closing of the private placement, anticipated receipt, impact and use of proceeds from the private placement, whether the conditions for the closing of the private placement will be satisfied, the filing of a registration statement or final prospectus, as applicable, to register the resale of the Shares and Warrant Shares to be issued and sold in the private placement, the anticipated cash runway following closing of the private placement , and other information that is not historical information. Words such as 'may,' 'might,' 'will,' 'objective,' 'intend,' 'should,' 'could,' 'can,' 'would,' 'expect,' 'believe,' 'design,' 'estimate,' 'predict,' 'potential,' 'develop,' 'plan' or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Lexeo believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements. These forward-looking statements are based upon current information available to the company as well as certain estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in Lexeo's filings with the SEC), many of which are beyond the company's control and subject to change. Actual results could be materially different from those indicated by such forward-looking statements as a result of many factors, including but not limited to: risks and uncertainties related to global macroeconomic conditions and related volatility; expectations regarding the initiation, progress, and expected results of Lexeo's preclinical studies, clinical trials and research and development programs; the unpredictable relationship between preclinical study results and clinical study results; delays in submission of regulatory filings or failure to receive regulatory approval; liquidity and capital resources; and other risks and uncertainties identified in Lexeo's Annual Report on Form 10-K for the annual period ended December 31, 2024, filed with the SEC on March 24, 2025, Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, filed with the SEC on May 12, 2025, as amended, and subsequent future filings Lexeo may make with the SEC. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Lexeo claims the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. Lexeo expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law. Media Response:Media@ Investor Response:Carlo Tanzi, in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-04-2025
- Business
- Yahoo
Frazier Life Sciences Appoints Aditya Kohli to Partner
PALO ALTO, Calif., April 17, 2025--(BUSINESS WIRE)--Frazier Life Sciences (FLS), a longstanding investment firm focused on innovative therapeutics, today announced the appointment of Aditya Kohli, Ph.D., to Partner. Since joining FLS in 2016, Dr. Kohli has played a foundational role in company creation, co-founding six life sciences companies, including HilleVax (NASDAQ: HLVX, IPO in 2022), Phathom Pharmaceuticals (NASDAQ: PHAT, IPO in 2019), and Scout Bio (acquired by Ceva Santé Animale). He previously acted as Chief Business Officer at Phathom, Chief Operating Officer at HilleVax, and served on the Board of Scout Bio. He currently serves on the Board of HilleVax. "Aditya has been a valued member of the FLS team, and we are thrilled to see him step into this next chapter at the firm as Partner," said Jamie Topper, M.D., Ph.D., Managing Partner at FLS. "With over 10 years of industry experience, Aditya will lend his leadership experience and extensive operating knowledge as we back and build the next generation of biotech companies." As Partner, Dr. Kohli will continue focusing on company creation while also expanding his role to include broader investment responsibilities and shaping FLS's investment strategy. "Frazier Life Sciences is an incredibly supportive team with a long-term mindset, which makes all the difference when it comes to making thoughtful investments and providing enduring support to our portfolio companies," said Dr. Kohli. "I'm excited to help lead our company creation efforts for innovative biotechs delivering novel therapeutics." Prior to joining FLS, Dr. Kohli was an Engagement Manager with McKinsey & Company. He earned his Ph.D. from the UC Berkeley and UC San Francisco joint graduate program in bioengineering and holds B.S. and degrees in biological engineering from the Massachusetts Institute of Technology (MIT). About Frazier Life Sciences Frazier Life Sciences invests globally in private and publicly traded companies that discover, develop, and commercialize innovative biopharmaceuticals. Frazier Life Sciences manages over $3.9 billion in capital, including Venture Funds focusing on company creation and private companies and the long-only Public Funds focused on small and mid-cap public companies. Since 2005, over 60 Frazier Life Sciences portfolio companies, many of which were created or seeded by FLS, have completed IPOs or M&As. The Frazier Life Sciences team consists of over 40 professionals in biopharmaceuticals, primarily located in Palo Alto, Calif. (headquarters), San Diego, Seattle, Boston, New York, and London. For more information about Frazier Life Sciences, please visit and follow us on LinkedIn. View source version on Contacts For media inquiries, please contact: Ailsa Dalgliesh, of Investor Relations ailsa@ Sign in to access your portfolio
Globe and Mail
03-03-2025
- Business
- Globe and Mail
Callio Therapeutics Launches with US$187 Million Series A to Advance Multi-Payload Antibody-Drug Conjugate Platform Through Clinical Proof-of-Concept
Frazier Life Sciences launches Callio Therapeutics based on multi-payload antibody-drug conjugate technology and programs exclusively in-licensed from Singapore -based Hummingbird Bioscience Financing led by Frazier Life Sciences with significant participation from Jeito Capital alongside other life sciences investors including Novo Holdings A/S, Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital and EDBI Company to advance innovative multi-payload programs designed to maximize therapeutic benefit for cancer patients by overcoming limitations of existing single-payload therapies SEATTLE and SINGAPORE , March 3, 2025 /CNW/ -- Callio Therapeutics, a biotechnology company focused on realizing the promise of multi-payload antibody-drug conjugates (ADCs) to improve cancer therapy, today announced its launch with the closing of a $187.0 million Series A financing round. This financing was led by Frazier Life Sciences with significant participation from Jeito Capital alongside other life sciences investors, including Novo Holdings A/S, Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital and EDBI. The newly formed company, with headquarters in Seattle and Singapore , intends to use the proceeds from the Series A financing to achieve clinical proof-of-concept for its HER2-targeted dual-payload ADC and a second undisclosed ADC program. In conjunction with the financing, Callio Therapeutics has entered into an exclusive worldwide license agreement with Hummingbird Bioscience for its multi-payload ADC platform in oncology, and associated intellectual property and pipeline assets, in exchange for equity, potential milestone payments and royalties. "We are delighted to be launching Callio Therapeutics with the support of Frazier Life Sciences and this syndicate of investors. Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells, and may provide significantly enhanced efficacy," said Piers Ingram , PhD, co-founder and Chief Executive Officer of Callio Therapeutics. "This new generation of ADC therapies may meaningfully improve outcomes for patients." Leadership Team The founding Callio Therapeutics management team comprises individuals with extensive experience from leading biotechnology and biopharmaceutical companies including ProfoundBio, Silverback Therapeutics, SeaGen, Medarex, Hummingbird Bioscience and Genentech: Piers Ingram , PhD, Chief Executive Officer Jerome Boyd-Kirkup , PhD, Chief Scientific Officer Naomi Hunder , MD, Chief Medical Officer Angèle Maki, PhD, Chief Business Officer "The multi-payload ADCs being developed at Callio Therapeutics have the potential to address large unmet medical needs by overcoming many of the limitations of existing ADCs," said Adam Simpson , Executive Board Chair of Callio Therapeutics and Venture Partner at Frazier Life Sciences. "With the expertise of the Callio Therapeutics team, together with access to the innovative multi-payload ADC technology, we believe that Callio Therapeutics will be the first company to show the clinical benefit of this exciting new multi-payload ADC approach and is well positioned to transform cancer therapy." About Callio Therapeutics Headquartered in Seattle and Singapore , Callio Therapeutics is focused on realizing the promise of multi-payload antibody-drug conjugates to transform cancer patient outcomes. The company is developing next-generation, multi-payload antibody-drug conjugates (ADCs) that feature differentiated payload and linker technologies that enable targeted delivery of multi agents to tumor cells to maximize therapeutic benefit. Callio Therapeutics' lead program is a HER2-targeted dual-payload ADC. Callio Therapeutics was created by Frazier Life Sciences, a longstanding investment firm focused on innovative therapeutics, based on ADC technology and programs exclusively in-licensed from Hummingbird Bioscience. For more information, please visit and follow Callio Therapeutics on LinkedIn. About Frazier Life Sciences Frazier Life Sciences invests globally in private and publicly traded companies that discover, develop, and commercialize innovative biopharmaceuticals. Frazier Life Sciences manages over $3.9 billion in capital, including Venture Funds focusing on company creation and private companies and the long-only Public Fund focused on small and mid-cap public companies. Since 2005, over 60 Frazier Life Sciences portfolio companies, many of which were created or seeded by Frazier Life Sciences, have completed IPOs or M&As. The Frazier Life Sciences team consists of over 40 professionals with deep expertise in biopharmaceuticals, primarily located in Palo Alto, Calif. (headquarters), San Diego , Seattle , Boston , New York and London . For more information about Frazier Life Sciences, please visit and follow on LinkedIn. About Hummingbird Bioscience Hummingbird Bioscience is a Singapore -based biotherapeutics company working at the interface of artificial intelligence and human innovation to discover and develop transformative medicines for hard-to-treat diseases. Hummingbird Bioscience's computational and systems biology technologies have generated a pipeline of innovative clinical-stage monoclonal antibodies and antibody-drug conjugates in oncology and autoimmunity. At Hummingbird Bioscience, the commitment to rigorous science, teamwork, and intellectual integrity underpins our passion to accelerate the journey of new drugs from concept to clinic. For more information, please visit and follow Hummingbird Bioscience on LinkedIn, X (formerly Twitter), and YouTube.
