 | |
| 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]
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]
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]