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XNK Therapeutics AB raises €12.75m

XNK Therapeutics AB has secured a private placement of €12.75m led by Flerie Invest AB to finance Phase II development of CellProtect + Isatuximab in multiple myeloma.

XNK Therapeutics said it will use the proceeds to accelerate an investigator-initiateed open Phase II study with its  autologous NK cell-based product CellProtect in combination with Sanofi’s anti-CD38 antibody isatuximab in 30 patients multiple myeloma compared to 30 patients that receive isatuximab monotherapy. Lead investor Flerie Invest contributed SEK100m to the SEK132m (€12.75m) financing and acquired the major share of 22 percent of the total number of shares and votes in the company.

“Combining NK cells that mediate antibody dependent cellular cytotoxicity (ADCC) with targeted antibodies is an appealing concept. The idea envisioned is a synergistic effect with reduced toxicity, helping to maintain multiple myeloma patients in a disease-free stage. This study is unique since it is the first investigator-initiated study randomizing patients to an NK cell-based therapy,” said Hareth Nahi, Associate Professor at Karolinska Institutet and Principal Investigator for the study.

According to Phase I results, upon ex vivo activation and expansion, infusion of CD56brightCD16+Ki67+HLA-DR+ NK cells were associated with Granzyme B activity.