Exo Biologics Secures up to EUR 16 Million in Series a Funding for Exosome Therapeutic Development and Clinical Supply

EXO Biologics, a clinical-stage biotech and a pioneer in developing exosome-based therapies, today announces the successful securing of a total of up to EUR 16 million in Series A funding. EXO Biologics will use the funds to support its ongoing and future clinical trials. It will also continue its manufacturing expansion, including upgrading its unique production platform, ExoPulse(TM), and expanding partnerships to enable pan-market access to the platform and GMP clinical grade exosomes for faster access to clinical trials. 

“By achieving this Series A funding in what remains a challenging time across the life science sector, EXO Biologics has received an endorsement from its founders, existing and new investors. This significant investment has supported EXO Biologics in obtaining non-dilutive funding. It will also enable EXO Biologics to bring novel exosome therapies to patients with few alternative therapeutic options,” said Hugues Wallemacq, Chief Executive Officer (CEO), EXO Biologics. “Having now launched the first trial approved by the EMA to use MSC-based exosomes, EXO Biologics is now able to support the clinical development of these highly promising therapies globally. This significant funding will therefore enable EXO Biologics to accelerate development and commercial agreements with third parties worldwide.”

EXO Biologics initially raised EUR 9 million from new and existing investors. This support allowed EXO Biologics to add substantial additional funding in the form of subsidies from the Public Service of Wallonia (SPW) in Belgium, amounting up to a further EUR 7 million. 

A significant portion (EUR 5.5 million) of the public subsidies has been granted via the Technological Innovation Partnership for Advanced Therapy Medicinal Products (ATMP-PIT) initiative. This three-year program has been launched by BioWin and the SPW under the Walloon Recovery Plan in Belgium. It involves 26 partners and will fuel collaborations between academia, research institutions, and businesses, driving forward the development and manufacturing of next-generation biomedicines.

EXO Biologics will direct the funding towards advancing transformative healthcare initiatives, including the enrolment in EVENEW, the first European Medicines Agency (EMA) authorized clinical trial involving MSC-based exosomes. This EVENEW study is a Phase 1/2 European clinical trial using EXO Biologics’ lead MSC-based exosome candidate EXOB-001. EXO Biologics is initially developing EXOB-001 to prevent Bronchopulmonary Dysplasia (BPD) in preterm newborns.   

Directing resources toward enhancing the ExoPulse production platform will enable EXO Biologics to conduct further research into its longer-term aim of loading exosomes with therapeutic molecules such as RNAs, proteins, and chemical drug compounds.

In addition, EXO Biologics will use the proceeds to reinforce ExoXpert(R), EXO Biologics’ newly launched subsidiary and one of the first CDMOs specializing in exosomes, leveraging the clinically proven manufacturing platform ExoPulse. By offering access to ExoPulse, ExoXpert can accelerate and derisk naive and loaded exosome drug development journeys for other companies.