" class="no-js "lang="en-US"> XNK Therapeutics Raises SEK 132 Million to Accelerate Growth - Medtech Alert
Friday, May 17, 2024

XNK Therapeutics Raises SEK 132 Million to Accelerate Growth

XNK Therapeutics AB (“XNK”) today announced it has secured a private placement of SEK 132 million, to existing and new investors, led by Flerie Invest AB. The purpose of the issue is primarily to finance the company’s clinical development in multiple myeloma and other indications.

XNK is at the global forefront of the development of autologous NK cell-based products using its proprietary technology platform. The company’s lead investigational candidate drug is currently being evaluated in combination with Sanofi’s anti-CD38 antibody Sarclisa (Isatuximab) in a Phase II clinical study in multiple myeloma.

Flerie Invest led the SEK 132 million financing by placing SEK 100 million and thus gains approximately 22 percent of the total number of shares and votes in the company becoming XNK’s largest owner. Ted Fjällman, partner at Flerie Invest, will as a result of the investment join the board of directors.

“This substantial fundraising is an important milestone for XNK. It allows us to accelerate our global growth initiatives and invest in the further development of our product portfolio in multiple myeloma and other cancer indications, such as our ongoing proof of concept study in acute myeloid leukemia (AML) using patient samples from The University of Texas MD Anderson Cancer Center. We are thankful for the continued support of our current shareholders and excited to further strengthen our specialist investor base with Flerie Invest and welcome them as a new shareholder.” said Johan Liwing, CEO of XNK Therapeutics.

“XNK Therapeutics and the innovation ecosystem around Karolinska University Hospital in Stockholm have long been at the forefront of clinical cell therapy development” said Ted Fjällman. “We’re excited to lead this round and use our network to further commercialise the company and in so doing bring cell therapies to more patients.”

XNK has engaged ABG Sundal Collier AB as financial adviser. The private placement is subject to approval by an extraordinary general meeting, which is scheduled to be held on April 5, 2022.

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