Akrevia Rebrands as Xilio Therapeutics, Snags $100 Million in Series B

Two years after Cambridge, Mass.-based Akrevia Therapeutics launched, the company has rebranded itself as Xilio Therapeutics and secured $100.5 million in a Series B financing round that will be used to advance its lead therapeutic candidates into clinical studies. The financing will be used to progress Xilio’s first two therapeutic candidates, XTX201 (tumor-selective IL-2) and XTX101 (tumor-selective aCTLA4 mAb) through Investigational New Drug (IND) enabling studies and into Phase I clinical trials. The funding will also be used to advance additional tumor-selective cytokine programs using Xilio’s proprietary technology. XTX201 and XTX101 have demonstrated tumor-selective activity in preclinical models, significantly widening the potential therapeutic index for these therapies, the company said.