X-Cor Therapeutics announced that it closed a $2.6 million seed financing round to move its technology toward clinical trials.
The Boston-based company developing a novel extracorporeal carbon dioxide removal device is a portfolio company of Alira Health’s investment arm, Alira Health Ventures, according to a news release.
Alira Health Ventures led the financing round, with syndication from Good Growth apital, PiSA Biopharm, Flybridge Partners’ Graduate Syndicate and other angel investors.
“X-Cor Therapeutics is continuing to develop its novel filtration system and compatible dialysate strategy for clinical testing and regulatory assessment,” X-Cor CEO Jayon Wang said in the release. “Working with the Alira Health Ventures team generated additional momentum for X-Cor to advance development during the COVID-19 pandemic and the addition of Gabriele Brambilla to our board further accelerates our progress.”
“We are pleased with the X-Cor team’s progress through this unprecedented year and are proud to work with such an elite investor group supporting this important technology,” added Alira Health CEO Gabriele Brambilla. “Alira Health Ventures is dedicated to nurturing innovative technologies and propelling development from concept to clinical evaluation for future commercialization. X-Cor’s technology will be transformational in the lives of patients suffering from respiratory failure, and this funding is a key milestone in accelerating the development of this vital technology.”