X-Therma Inc., an innovator in biotechnology focusing on regenerative medicine and organ preservation, announces the successful completion of a $22.4 million Series B financing. This oversubscribed round is set to catalyze the company's journey towards clinical trials and the expansion of its global commercial operations. The funding is a testament to X-Therma's pioneering efforts to significantly enhance organ availability for transplantation by addressing the critical challenge of preservation time limits.

Dr. Xiaoxi Wei, Ph.D., Co-founder, and CEO of X-Therma, alongside the innovative TimeSeal® technology, heralds this investment as a transformative step forward. The funding will bolster the development and clinical progression of X-Therma's promising product lineup, including XT-Thrive® and XT-NoVoTM for regenerative medicine and cell therapy, as well as XT-ViVo® & TimeSeal® for organ preservation. Notably, XT-ViVo® & TimeSeal® have been awarded the FDA Breakthrough Device designation for their potential to provide a significantly improved solution for life-threatening diseases lacking adequate medical remedies.

Dr. Wei underscores the importance of this funding in launching X-Therma's GMP-grade cryopreservation and cold-chain solutions to meet the increasing demand within Cell and Gene Therapy and bioprocessing sectors. She envisions these developments positioning X-Therma as a leader in organ transplantation innovation, potentially saving millions of lives by eliminating timing constraints.

This financing round was spearheaded by new investor Starling Locke Capital and supported by Series A leader LOREA AG, among other returning and new investors. Despite a challenging financial climate for the life sciences sector, X-Therma's resilience and potential have shone through, drawing significant investor interest and support.

Johannes Weggemann, Managing Director at LOREA AG, and the Hon. Jim Greenwood, former President and CEO of BIO and a current board member and investor at X-Therma, both express confidence in X-Therma's capacity to bring about a paradigm shift in organ transplantation and regenerative medicine.

X-Therma's XT-Thrive® represents a breakthrough in non-toxic cryopreservation for regenerative medicines, offering a DMSO-free, serum-free, and protein-free medium for mammalian cell preservation at ultra-low temperatures. Meanwhile, XT-NoVoTM & TimeSeal® provide innovative solutions for extending the shelf-life of cell-based materials and products, facilitating a more efficient cold chain logistics.

Furthermore, XT-ViVo® & TimeSeal® are setting new standards in organ preservation, aiming for multi-day viability that could transform organ transplantation logistics worldwide. These technologies embody X-Therma's mission to bridge critical gaps in healthcare, offering hope for millions of patients awaiting life-saving transplants.

As X-Therma moves forward with these cutting-edge technologies, the company is poised to make significant contributions to the fields of regenerative medicine and organ transplantation, underlining the importance of innovative solutions in meeting the complex challenges of modern healthcare.