Medtech startup secures €32 million in series D2 round

Xeltis, a clinical-stage medtech company developing living implants that enable the body to restore cardiovascular function, has raised €32 million in a Series D2 equity fundraise with existing and new investors. The proceeds will be used to advance Xeltis’ aXess vascular access graft into pivotal clinical trials.

Based in Zurich, Xeltis developed a breakthrough technology to restore the body’s natural cardiovascular functions, with numerous potential applications. Its proprietary endogenous tissue restoration (ETR) platform utilizes 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 hemodialysis. Preliminary in-human clinical trial data from the s ongoing aXess studies have been very encouraging. The company is also pursuing clinical programs in pulmonary valve replacement and coronary artery bypass grafts.

The additional capital from its series D2 round will enable Xeltis to progress its key clinical programs into pivotal trials, as it aims to give patients around the world access to the world’s most advanced restorative cardiovascular devices. The round was backed by a syndicate of current and new investors, including Grand Pharma, DaVita Venture Group, EQT Life Sciences, Invest-NL and other international investors.

License deal for China
Alongside the equity fundraise, Xeltis and Grand Pharma last year completed a licensing deal, covering Greater China, for aXess and other potential hemodialysis products developed under the same technology platform. Under the agreement, Grand Pharma will have exclusive rights to develop, produce and commercialize 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 and 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 growth phase.”

(Press release/RAN)