Xinnate today announced successful closure of its share issue, raising 31 million in new capital for the development of TCP-25. The issue was oversubscribed demonstrating strong interest and confidence from both existing and new shareholders.
– We extend our sincere thanks for our investors’ continued support, says CEO Helene Hartman. This marks a significant milestone accelerate the path to partnering, market and hence patients suffering from Epidermolysis Bullosa.
The funding enables us to move forward with our accelerated development strategy, following the transition to a CDMO partner with commercial manufacturing capacity. This includes:
- Advancing the pivotal STEP study for EB patients, backed by positive FDA feedback.
- Securing continued GMP manufacturing of clinical study material, following successful production of a pilot batch.
- Preparing for a potential commercial partnership and future NDA submission.
To accommodate those investors who were not allocated shares in this round, the Board plans to launch a directed issue during the summer.