Xention raises £8m to fund drug development
Specialises in drugs to treat atrial fibrillation
UK biopharmaceutical firm Xention has raised £8m in private equity funding to advance the development of drugs to treat atrial fibrillation.
New investor Seroba-Kernel Life Sciences led the financing round, supported by existing investors Forbion Capital Partners, Crédit Agricole Private Equity, MVM and BTG International.
Cambridge-based Xention said it would use the funds to advance its programmes in atrial fibrillation to clinical proof of concept. The company’s interests in this area are focused on two key ion channel targets against which it has already developed a pipeline of compounds that are in clinical and pre-clinical development.
‘We have proven that our technology allows us to discover and develop drug candidates which act on ion channels, an important yet under-exploited class of targets,’ said Xention chief executive Tim Brears. ‘These funds will allow us to further develop and advance our programmes in atrial fibrillation, an area of substantial unmet medical need.’
Graham Fagg of Seroba-Kernel will join Xention’s board.