Xontogeny Announces Launch of Several New Early-Stage Portfolio Companies
Xontogeny LLC, a Boston-based accelerator that provides seed-stage investments along with strategic and operational support to early-stage life science companies, unveiled five of its latest portfolio companies. These early-stage startups, developing promising therapeutics for a wide range of diseases, have received seed investment and collaboration from Xontogeny to advance their preclinical programs. Since inception in 2016, Xontogeny has supported more than 10 companies through incubation, including two Xontogeny portfolio companies that had liquidity events in Q1 2021.
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Xontogeny Collaborative Seed Investments (Photo: Business Wire)
"We're helping founders build companies around life-saving technologies while showing that capital can be deployed more efficiently to benefit both founders and investors," said Chris Garabedian, Chairman and CEO of Xontogeny. "Through smartly deploying seed-stage investments, providing early development expertise, and active collaboration on program development, we help entrepreneurs, founding scientists, and first-time CEOs create value for their life science startups. Additionally, Xontogeny's team is fully integrated with Perceptive Advisors, serving as Perceptive's early-stage venture arm. This unique partnership gives our companies access to capital from the Perceptive Xontogeny Venture Funds (the "PXV Funds") and enables us to stay committed to our mission to support and advance life science technologies from early preclinical development through clinical proof-of-concept."
Xontogeny provides access to seed capital and strategic support to advance companies in preclinical stages through important de-risking activities and key milestones in preparation for the next stage of financing. Once achieved, Xontogeny-supported companies will be considered for Series A financings through Xontogeny's affiliation with Perceptive Advisors and the PXV Funds. These complementary investment strategies enable the Xontogeny and Perceptive teams to support companies through the most challenging development stages: from early preclinical development to clinical proof-of-concept studies in patients. While the PXV Funds are focused on Series A and subsequent Series B financings, they are just some of Perceptive Advisors' various investment vehicles that can support life sciences companies across all stages of their investment life cycle, including late-tage private/mezzanine/crossover financings, debt financings, SPACs, and IPO/follow-on public offerings. Perceptive Advisors recently announced the final close of an oversubscribed $515 million Perceptive Xontogeny Venture Fund II, LP ("PXV Fund II"), the raise coming less than 18 months after closing of Perceptive Xontogeny Venture Fund I, LP ("PXV Fund I", collectively with PXV Fund II, the "PXV Funds"). Companies that are seeded and incubated by Xontogeny will be one source of prospective investments for PXV Fund II, along with direct Series A investments in companies that may have received investment capital and support from other seed funds, incubators, and accelerators in the life sciences sector.
Xontogeny and the PXV Funds support opportunities across all therapeutic areas and drug modalities, including small molecules, peptides, antibodies, genetic technologies, and cell therapy. Additionally, the team can support company creation and provide financing for technologies beyond drug therapeutics, such as medical devices, diagnostics, and emerging healthtech opportunities. Two companies managed and supported by Xontogeny and PXV Fund I have already achieved public liquidity events: Landos Biopharma (NASDAQ:LABP) successfully completed its IPO in February 2021, and Quellis Biosciences was acquired by Catabasis Pharmaceuticals (NASDAQ:CATB) through a reverse merger transaction in January 2021.
The recent additions to the Xontogeny seed-funded portfolio of companies are:
About Xontogeny, LLC
Based in Boston, MA, Xontogeny seeks to accelerate the development of life science technologies by providing entrepreneurs with funding options as well as the leadership, strategic guidance and operational support necessary to increase the probability of success in early drug and technology development. Through a differentiated approach, the Xontogeny team partners with founding scientists and entrepreneurs to support their vision while allowing a more efficient development model that benefits company founders and early equity holders. For more information visit www.xontogeny.com.
About Perceptive Xontogeny Venture Funds
The Perceptive Xontogeny Venture Funds are Perceptive Advisors investment vehicles focused purely on early-stage, private venture investments in life sciences companies. Primary investments for the Funds include companies that are seeking a lead investor for Series A financings, which include both companies that are seeded and incubated at Xontogeny and companies that are seeded and incubated by other organizations, accelerators and seed investors. The PXV Funds are also open to participating in syndicated Series A financings as a co-lead or passive investor with other venture capital firms. For more information, visit www.perceptivelife.com.
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