Xilio Therapeutics Announces $50 Million Public Offering

Deal News | Jun 12, 2025 | Wilmer Cutler Pickering Hale and Dorr LLP

Xilio Therapeutics Announces $50 Million Public Offering

On June 2, 2025, Xilio Therapeutics, Inc., a clinical-stage biotechnology firm focused on discovering and developing tumor-activated immuno-oncology therapies, announced the pricing of its underwritten public offering. The offering involves pre-funded warrants as well as Series A, B, and C warrants, totaling 66,676,000 shares of common stock. Each set of warrants has a combined public offering price of $0.7499, minus a nominal exercise price for the pre-funded warrants. Prior to any deductions for underwriting discounts and other offering costs, the efforts have generated $50 million in gross proceeds for Xilio. Furthermore, the full exercise of Series B and C warrants could yield additional amounts approaching $100 million, potentially bolstering Xilio's financial foundation for its ongoing cancer therapy development initiatives.

Sectors

  • Biotechnology
  • Financial Services

Geography

  • United States – Xilio Therapeutics is based in the United States, and the advisory firm WilmerHale is also located there, making it the primary geographical focus of the transaction.

Industry

  • Biotechnology – Xilio Therapeutics operates within the biotechnology sector, specifically focusing on immuno-oncology therapies for cancer patients, which is central to their business model and the public offering.
  • Financial Services – The financial services sector is involved due to the structuring and execution of the public offering, including underwriting and advising roles taken by financial and legal advisors.

Financials

  • $50 million – Gross proceeds from the public offering before deducting expenses.
  • Approximately $100 million – Potential additional gross proceeds if all Series B and C warrants are exercised.

Participants

NameRoleTypeDescription
Xilio Therapeutics, Inc.Target CompanyCompanyA clinical-stage biotechnology company focused on cancer immunotherapy.
Wilmer Cutler Pickering Hale and Dorr LLPLegal AdvisorCompanyA prominent law firm providing legal advisory services in connection with Xilio Therapeutic's public offering.