X4 Pharmaceuticals, a Cambridge, Mass.-based clinical stage biotechnology company, raised $37.5m in Series A financing. Maxim Merchant Capital, a wholly owned division of Maxim Group LLC, served as the sole placement agent for the financing, with Cormorant Asset Management serving as lead investor. Henri Termeer, the former Chairman, president and CEO of Genzyme, is a founding advisor and investor in X4.
X4 Pharmaceuticals is developing novel therapeutics designed to improve immune cell trafficking and increase the ability for T-cells to track and destroy cancer cells. Our small molecule drug candidates inhibit C-X-C receptor type 4 (CXCR4), a receptor over-expressed in many cancers. Inhibition of CXCR4 is designed to block non-cancerous immunosuppressive and pro-angiogenic cells from populating the tumor, disrupting the cancer microenvironment and restoring normal immune surveillance functions.
X4 was founded and is led by a team with deep product development and commercialization expertise, including several former members of the Genzyme leadership team, and is located in Cambridge, MA.