XBiotech
 | |
| Company type | Public |
|---|---|
| Nasdaq: XBIT | |
| Industry | Biopharmaceutical |
| Founded | 2005 in Canada |
| Founder | John Simard |
| Headquarters | , United States |
Area served | Worldwide |
Key people | John Simard (CEO) |
| Website | xbiotech |
XBiotech Inc. is a clinical-stage biopharmaceutical company based in Austin, Texas.[1][2] It specializes in the research and development of human-derived antibody therapeutics for multiple diseases, including cancer, rheumatological, and infectious diseases.[2]
History
[edit]XBiotech was founded in 2005 in Vancouver, Canada by John Simard.[1][3] The company moved its headquarters to Austin, Texas in 2008.[1]
In September 2016, XBiotech was listed on Nasdaq, raising $70.9 million through its initial public offering (IPO).[4][5] The company allocated about $42 million of the proceeds to complete later-stage trials for one of its key cancer drugs and to construct a new manufacturing and research facility in southeast Austin.[4] The remaining funds were used for earlier-stage trials of other products and general corporate purposes.[4] In March 2017, XBiotech announced a registered direct offering in which it sold over $30 million of its common shares at a price of $13 per share.[6] In the same year, XBiotech opened a 40,000-square-foot production facility in Southeast Austin.[7]
In October 2017, XBiotech enrolled its first patient in a clinical study to evaluate the effectiveness of its antibody MABp1 in combination with ONIVYDE and 5-fluorouracil/folinic acid for treating pancreatic cancer.[8]
In December 2019, XBiotech's drug for dermatological conditions, Bermekimab, was acquired by Janssen Pharmaceutical, a subsidiary of Johnson & Johnson, for $750 million.[9][10] XBiotech is eligible for up to $600 million in milestone payments, potentially increasing the total value of the deal to $1.35 billion.[9]
During the COVID-19 pandemic, XBiotech worked with BioBridge Global to offer its antibody screening technology to the South Texas Blood & Tissue Center.[11] The technology identified patients with natural antibodies effective against the virus.[11] XBiotech also developed a COVID-19 therapy candidate by isolating specific antibodies and their genes from convalescent plasma, aiming to create a mass-producible, purified antibody product.[11]
Xilonix
[edit]XBiotech is known for developing Xilonix, a candidate therapeutic for treating advanced colorectal cancer by targeting tumor-associated inflammation, an approach intended to inhibit both tumor growth and metastasis.[6]
Xilonix received fast-track designation from the United States Food and Drug Administration in 2012 and had progressed to Phase 3 trials in both the United States and Europe by 2016.[4][12] In February 2017, XBiotech reported in an SEC filing that it had received an extension from European regulators to address deficiencies the agency was asserting in the registration application.[6] The company indicated it expected to meet the new deadline of March 22 to respond to these issues.[6]
References
[edit]- ^ a b c Rockwell, Lilly. "How Austin's XBiotech aims to revolutionize drug discovery". Austin American-Statesman.
- ^ a b "XBIT: XBiotech Inc Stock Price Quote - NASDAQ GS - Bloomberg". Bloomberg.com.
- ^ https://www.bizjournals.com/austin/print-edition/2014/10/17/meet-john-simard-ceo-of-xbiotech.html
- ^ a b c d Zehr, Dan. "XBiotech prices Austin's first IPO of 2015". Austin American-Statesman.
- ^ Hawkins, Lori. "Shares of Austin-based XBiotech soar on first trading day". Austin American-Statesman.
- ^ a b c d Sechler, Bob. "Austin's XBiotech aims to raise $31 million with offering". Austin American-Statesman.
- ^ https://www.bizjournals.com/austin/news/2016/09/27/xbiotechs-road-to-revenue-runs-through-gleaming.html
- ^ https://www.reuters.com/article/brief-xbiotech-enrolls-first-patient-in-idUSFWN1MT0O7/
- ^ a b https://www.bizjournals.com/austin/news/2020/02/10/1-35b-deal-offers-vindication-runway-for-austin.html
- ^ https://www.bizjournals.com/austin/news/2019/12/31/xbiotech-sells-new-drug-candidate-in-750m-deal.html
- ^ a b c https://www.bizjournals.com/austin/news/2020/08/27/xbiotech-dell-medical-school-convalescent-plasma.html
- ^ Hawkins, Lori. "Austin-based XBiotech files for an IPO". Austin American-Statesman.