XyloCor Therapeutics Secures $23M to Fund Clinical Trial
XyloCor Therapeutics, a biopharmaceutical company, secures $22.6 million in funding to expand their research into heart disease gene therapy. This is the latest sum in a series A funding round, bringing the company to a $41.9 million total.
Xylocor intends to use this funding to continue their research into gene therapy which promotes revascularization in heart tissue. They will engage in a clinical trial to assess the use of their VEGF growth factor gene therapy, XC001 and determine its effectiveness in alleviating heart disease, specifically refractory angina. In theory, their XC001 could complement CABG, a coronary heart disease surgical procedure, by improving blood flow.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.