Xeltis Secures Significant Investment Through EIC STEP
Xeltis has reached a remarkable milestone by successfully passing the evaluation phase of the European Innovation Council's (EIC) STEP Scale-Up call. This achievement places Xeltis among a select few companies, specifically being one of only seven to be recognized for outstanding innovation and potential within the biotechnology sector.
Purpose of Investment
The funding of €10 million is intended to support the commercialization of Xeltis' revolutionary bioresorbable vascular conduits. These conduits play a critical role in advancing hemodialysis treatment options, ultimately improving patient outcomes.
Overview of the EIC STEP Scale Up Call
The EIC STEP Scale Up call is an initiative created to foster growth in high-potential companies across various fields, including biotech, digital, and clean technologies. The program's primary focus is on enhancing the EU's economic and technological competitiveness by offering equity investments ranging from €10 million to €30 million. This support is designed to facilitate larger funding rounds that can reach up to €150 million.
Criteria for Selection
Selecting the awardees is no small feat. Companies must showcase a high level of innovation, technological excellence, and the ability to significantly impact the market and society. Xeltis stood out as the only life science company selected in this round, an achievement that underscores its potential and innovative capabilities.
Clinical Advancements Ahead
The funds received from the EIC STEP initiative will be channeled towards clinical advancements and preparations for commercialization of the company’s flagship product, aXess. This pioneering regenerative vascular access conduit aims to provide a solution for dialysis patients, merging the advantages of both a fistula and an arteriovenous graft, while minimizing complications often associated with current treatment methods.
CEO Insights
Eliane Schutte, the Chief Executive Officer of Xeltis, expressed her enthusiasm regarding the award, highlighting the recognition as a distinct honor for their innovative approach. She emphasized that the company’s technology is anchored in Nobel-Prize winning supramolecular chemistry and is poised to revolutionize vascular surgery.
Financial Outlook and Future Potential
Alexander Goemans, the Chief Financial Officer, framed this recognition as a pivotal moment for Xeltis as it positions the company for commercialization with aXess on the horizon. With the pivotal trial readout anticipated soon, this validation enhances investor confidence and supports the strategy to establish Xeltis as a global leader in the regenerative medicine field.
What is aXess?
aXess represents a transformative solution, enabling the formation of new, living vessels for patients requiring hemodialysis. Its design aims to offer an effective alternative without the usual complications, making it an exciting prospect for both providers and patients.
About Xeltis
Xeltis is at the forefront of medical technology, dedicated to the development of innovative implants that facilitate the creation of natural and lasting vascular structures. The company addresses the pressing needs of millions who depend on access grafts or replacements for cardiovascular issues every year. Their ETR platform uses advanced polymers to restore tissue sustainably, paving the way for future therapies that could alter the landscape of vascular and cardiovascular health.
Investors and Partnerships
Headquartered in both the Netherlands and the USA, Xeltis is backed by an impressive roster of investors including DaVita Venture Group and EQT Life Sciences, among others. These partnerships are crucial as they enable the company to strategically advance its groundbreaking technology.
Frequently Asked Questions
What is the significance of the EIC investment for Xeltis?
The €10 million investment signifies recognition of Xeltis' innovative technologies and supports its growth trajectory toward commercialization.
How does the aXess conduit work?
aXess fosters the creation of sustainable living vessels for hemodialysis, offering a blend of both safety and efficiency.
What innovations does Xeltis bring to vascular surgery?
Xeltis utilizes advanced polymers for tissue regeneration, aimed at providing safe, effective, and permanent solutions to vascular issues.
Who are the key individuals leading Xeltis?
Xeltis is led by Chief Executive Officer Eliane Schutte and Chief Financial Officer Alexander Goemans, both of whom bring a wealth of experience and vision to the company.
Where is Xeltis headquartered?
Xeltis has operational bases in the Netherlands and the United States, enhancing its global reach in the medtech sector.
