Renaissance Capital logo

Solid tumor biotech Xilio Therapeutics files for a $100 million IPO

October 1, 2021

Xilio Therapeutics, a Phase 1 biotech developing novel molecules to treat solid tumors, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

Xilio has built its geographically precise solutions (GPS) platform to rapidly engineer novel molecules, including cytokines and other biologics, that are designed to optimize their therapeutic index by geographically localizing their activity inside tumors. Its most advanced candidates are XTX101, an anti-CTLA-4 mAb, and XTX202, an IL-2 therapy. The company recently initiated a Phase 1 trial of XTX101 in patients with solid tumors, and in September 2021, submitted an IND to evaluate XTX202 in patients with solid tumors.

The Waltham, MA-based company was founded in 2015 and plans to list on the Nasdaq under the symbol XLO. Xilio Therapeutics filed confidentially on May 24, 2021. Morgan Stanley, Cowen, and Guggenheim Securities are the joint bookrunners on the deal. No pricing terms were disclosed.