BRIEF—X4 Pharma secures $27 million in Series B financing

X4 Pharmaceuticals, a US clinical-stage biotech company developing novel CXCR4 inhibitor drugs to improve immune cell trafficking to treat cancer and rare diseases, today announced the successful completion of a $27 million Series B financing.

Proceeds from the financing will be used to advance X4’s two lead drug candidates in clinical efficacy studies in immuno-oncology and a pivotal study in WHIM syndrome, a rare primary immunodeficiency disease.

X4’s novel therapeutics are directed against the CXCR4 pathway to correct the trafficking of key immune cells that regulate healthy immune surveillance throughout the body.

"We are incredibly pleased to have the support of Cormorant Asset Management and additional new and existing investors to support our mission of bringing innovative treatments to patients with cancer and rare diseases," said Paula Ragan, president and chief executive of X4.

“We are now in a strong position to advance our lead candidate in WHIM syndrome into a pivotal study in 2018 and to advance our proof of concept studies in oncology. This financing recognizes the progress we have made as well as the important milestones that lie ahead in 2018,” she added.