Liège-based EXO Biologics, a clinical-stage biotech company, achieved a significant milestone by securing up to €16M in Series A funding. This financing round was initiated with an initial investment of €9M from prominent backers, complemented by an additional €7M in subsidies from the Public Service of Wallonia (SPW) in Belgium. EXOB-001, derived from human umbilical cord cell exosomes, has garnered significant regulatory recognition and holds promise in preventing BPD in preterm newborns.
Utilization of Funds
EXO Biologics plans to utilize the newly acquired funds to support ongoing and future clinical trials, expand manufacturing capabilities, and enhance its unique production platform, ExoPulse. Additionally, partnerships will be forged to facilitate broad market access to GMP clinical-grade exosomes.
Public-Private Collaboration
A substantial portion of the public funding, €5.5M, was facilitated through the Technological Innovation Partnership for Advanced Therapy Medicinal Products (ATMP-PIT) initiative. This collaborative effort, embedded within the Walloon Recovery Plan, involves 26 partners dedicated to advancing the development and manufacturing of next-generation biomedicines.
Healthcare Initiatives
The company's immediate focus lies on advancing healthcare initiatives, notably the EVENEW clinical trial. Authorized by the European Medicines Agency (EMA), this trial evaluates the efficacy of EXOB-001, the lead candidate, in preventing Bronchopulmonary Dysplasia (BPD) in preterm newborns.
Innovation and Expansion
In line with its commitment to innovation, EXO Biologics plans to invest in enhancing the ExoPulse production platform. This initiative aims to broaden research horizons by exploring exosomes' potential to deliver therapeutic molecules. Additionally, funds will be allocated to strengthening ExoXpert, a subsidiary specializing in exosome contract development and manufacturing.
As EXO Biologics continues to pioneer advancements in exosome-based therapies, its latest funding milestone underscores the company's commitment to improving patient outcomes and addressing unmet medical needs on a global scale.