Xeno Biosciences Raises $7.25m
Somerville, MA, Aug 8, 2021 – Xeno Biosciences Inc., a clinical stage drug discovery and development company advancing therapeutics for the treatment of obesity and metabolic diseases, announced today the completion of the Company’s Series A financing, which raised $7.25M in a private round. The investment round was led by Boston Harbor Angels. Clinical Research Ventures was the largest single investor.
Xeno is advancing its lead development candidate to address the unmet need for an effective and well-tolerated obesity treatment. Xeno has developed a substitute for gastric bypass in a daily oral pill that is clinic-ready with a large safety margin.
“We are honored and excited to have the support of an experienced and wide-ranging group of investors” said David Beno PhD, CEO. “This funding allows us to move XEN-101 to clinical proof-of-concept where we have the opportunity to show it as a safe and well-tolerated yet novel treatment for obesity and metabolic disease.”
“Xeno has the potential to fill the unmet need for a highly effective oral drug for obesity and related diseases with minimal side effects,” said Jeff Arnold, Director at Xeno since 2017. Arnold is a member of Boston Harbor Angels and led the Series A deal.