Stelexis Therapeutics Secures $43 Million Series A Financing to Advance Proprietary Pre-Cancer Stem Cell Targeting Platform

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that Stelexis Therapeutics, a cancer treatment company, completed its Series A financing on January 7, 2019, local time. The financing amount was $43 million, exclusively invested by the Deerfield Fund. It is reported that the funds from this round of financing will be used to expand Stelexis’s proprietary technology platform.

Stelexis Therapeutics was founded in September 2017 by the venture capital firm Deerfield and scientists Ulrich Steidl, Evripidis Gavathiotis, Amit Verma, Roman Perez-Soler, and Derrick Rossi, along with Montefiore Health. Headquartered in New York, USA, Stelexis is an emerging company focused on cancer treatment. Its proprietary technology platform selectively targets “pre-leukemic stem cells” for the treatment of acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS).

As with many other cancers, relapse remains the leading cause of death among patients with acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS), with overall cure rates remaining below 20%. Stelexis Therapeutics aims to identify the “primitive cells” that give rise to cancer through targeted localization, seeking to alter their state before malignant transformation occurs. This approach offers a novel anti-cancer strategy for the treatment of leukemia and other malignancies.

Stelexis Therapeutics’ proprietary technology platform enables the analysis of pre-leukemic “blast” cells in acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS). This platform can identify and isolate stem cells and progenitor cells, both of which can proliferate and differentiate into target cells. These two cell types, characterized by their clonal properties, are susceptible to pathological transformations that drive the formation of primary or recurrent human tumors. The Stelexis technology platform can identify and extract these two critical cell populations involved in cancer, thereby informing drug development programs (currently in the preclinical stage) to address the therapeutic needs of multiple cancer indications.

Mechanism of Action of the Stelexis Technology Platform (Image Source: Official Website)

Dr. Steidl, co-founder of the company, stated, “The ability to identify, isolate, screen, and study rare precancerous stem cells from a large number of tumors represents a major breakthrough for Stelexis, which could transform current cancer treatment approaches.”

Dr. Rossi stated, “This therapeutic approach, which targets the origin of cancer, not only demonstrates significant clinical efficacy but also prevents recurrence, thereby ensuring long-term health for patients.”

Since its inception, Stelexis Therapeutics has been funded by Deerfield Management. Leveraging seed financing from Deerfield, Stelexis established a laboratory at Albert Einstein College of Medicine and prepared for clinical trials. The proceeds from this Series A financing will help Stelexis Therapeutics further validate its platform technology.

Regarding this financing round, Patrick Doyle, CEO of Stelexis Therapeutics, stated, “Deerfield has provided Stelexis with financial support and operational assistance, enabling Stelexis to establish a leadership position in the field of cancer treatment. With this funding, Stelexis is now equipped to transform the current quality of life for cancer patients.” Robert Jackson, Director at Stelexis Therapeutics, added, “We are delighted that Stelexis has secured this funding. The company’s technology platform enables the exploration of precancerous lesions. We look forward to the emergence of revolutionary cancer therapies.”

Deerfield is a venture capital firm founded in 1994. The firm specializes in seed, early-stage, and late-stage investments, with a primary focus on healthcare, pharmaceuticals, and biotechnology. As of 2018, Deerfield had completed over 180 investments, managed more than $8 billion in assets, held equity stakes in over 100 companies, and maintained a total portfolio value of approximately $17 million. It currently operates offices in Shanghai, China, and Epalinges, Switzerland.