WUHAN, China, Sept. 20, 2017 /PRNewswire/ -- XW Laboratories Inc. (XW Labs), a biopharmaceutical Research and Development (R&D) company focused on neurological disorders, today announced the closing of a $17.5 million Series B financing led by Elements Capital and WI Harper with participation from new investor KTB Network, and all existing investors Kleiner Perkins Caufield & Byers China (KPCB China), Johnson & Johnson Innovation – JJDC, Inc. and WuXi Venture. This brings the investment from Series A led by KPCB China in 2014 and Series B to a total of $23 million. XW Labs will utilize funds to continue the development of its multiple programs that are entering clinical and IND-enabling studies.
"Our company is entering a critical stage where we anticipate at least 1 program to enter clinical trials per year starting in 2018" said Dr. Jia-Ning Xiang, Founder and CEO of XW Labs. "We are thrilled to have Elements Capital, WI Harper and KTB Network join our experienced Series A investor team".