SV Health Investors joins Xilio Therapeutics’ $100.5 million Series B financing - proceeds will advance XTX201 and XTX101 into the clinic while expanding Xilio’s cytokine pipeline

in Portfolio News

SV Health Investors join existing investors F-Prime Capital and Atlas Venture alongside other new investors, including the strategic venture capital arms of Takeda, Merck & Co, and EMD Serono

Series B proceeds will advance XTX201 (tumor-selective IL-2) and XTX101 (tumor-selective αCTLA4) into the clinic while expanding Xilio’s tumour-selective cytokine pipeline

Boston, MA & London, UK (March 3, 2020) – SV Health Investors (SV), a leading transatlantic venture capital and growth equity firm, today announces they have joined the Series B investment into Xilio Therapeutics, a company developing potent, tumor-selective immuno-oncology (IO) therapies for patients with cancer. Xilio combines a deep understanding of tumor microenvironment biology with antibody and cytokine engineering expertise, and is led by experienced biotech leaders, including Rene Russo, PharmD, whom SV previously backed as the Chief Executive Officer of Arsanis, Inc.

The Series B financing, led by Takeda Ventures, raised a total of $100.5 million. Proceeds from the round will be used to progress Xilio’s first two therapeutic candidates, XTX201 (tumor-selective IL-2) and XTX101 (tumor-selective αCTLA4 mAb) through Investigational New Drug (IND) enabling studies and into Phase 1 clinical trials, as well as develop additional cytokine programs using Xilio’s proprietary technology and internal expertise.

Mike Ross, Managing Partner at SV has joined the Board of Directors alongside Jayson Punwani of Takeda Ventures, Peter Dudek of MRL Ventures Fund,the strategic venture capital arm of Merck& Co, and Nancy Hong of RiverVest Venture Partners.

“Xilio is committed to the development of next generation IO therapies and their first two therapeutic candidates, based on clinically-validated targets, have demonstrated compelling tumor-selective activity in preclinical models,” said Mike Ross, Managing Partner at SV Health Investors. “We’re excited to be part of this strong Series B syndicate and are looking forward to supporting the company as it progresses its tumor-selective cytokine programs towards the clinic and expands its pipeline.”

SV Health Investors joined existing investors F-Prime Capital and Atlas Venture in the syndicate alongside other new investors MRL Ventures Fund, RiverVest Venture Partners, Bay City Capital, Solasta Ventures, M Ventures, and Ipsen Ventures.


About SV Health Investors

SV Health Investors is a leading healthcare and life sciences venture capital and growth equity firm. Organized by sector, SV invests in innovative science across biotechnology, medical devices,and healthcare services and digital health. Their strategy is sector specific: targeting early-stage opportunities in biotechnology, of which approximately two thirds are in new companies created in-house, early-stage and revenue-stage opportunities in medical devices,and growth equity investments for later-stage businesses in healthcare services and digital health.

SV Health Investors manages the Dementia Discovery Fund, a specialist venture capital fund focused entirely on funding the discovery and development of novel, disease-modifying therapies for dementia patients, including those with Alzheimer’s disease. Established in 2015, the fund raised £250 million from an influential group of strategic and financial investors committed to developing urgently needed new treatments that can alter the course of disease and help to combat the growing global health crisis from dementia.

SV Health Investors has offices in Boston and London. For more information, please visit

About Xilio Therapeutics

Xilio Therapeutics is a biotechnology company advancing next-generation cancer immunotherapies designed to improve patient outcomes by unleashing the power of the immune system selectively at the site of the tumor. The company’s tumor-selective immunotherapies are based on its proprietary technology which maximizes the potency of proven immuno-oncology therapies and restricts their activity to the tumour to minimize peripheral side effects. The broad applicability of these therapies across cancer types means that all patients could benefit from these potentially curative medicines.

The company rebranded to Xilio Therapeutics from Akrevia Therapeutics in March 2020 to reflect the company’s evolution from a research-focused organization to a development stage company and commitment to developing the next generation of ultra-potent IO therapies. Xilio is derived from the Latin term Ex Nihilo, meaning creation or big-bang, and embodies the company’s vision to create the next generation of transformative cancer treatments for individuals living with cancer by unleashing the full power of highly potent immune therapies precisely in tumors.

Xilio Therapeutics are based in Waltham, MA. For more information please visit

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