| XBiotech | |
| Type: | Public |
| Traded As: | NASDAQ: |
| Industry: | Biopharmaceutical |
| Founded: | in Canada |
| Founder: | John Simard |
| Hq Location City: | Austin, Texas |
| Hq Location Country: | United States |
| Area Served: | Worldwide |
| Key People: | John Simard (CEO) |
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]