Israeli company Atox Bio, a clinical stage biotechnology company developing novel therapies for critically ill patients, today announced that it had raised $30 million. The round was led by Arix Bioscience plc with participation from Adams Street Partners, Asahi Kasei Corporation and additional undisclosed investors. Existing investors SR One, OrbiMed, Lundbeckfonden Ventures, Becker and Integra Holdings also participated in the financing.
In conjunction with the financing, Arix Bioscience investment manager Jonathan Tobin, and Terry Gould, partner and head of venture/growth investments at Adams Street Partners, will join Atox Bio’s board of directors.
Atox Bio says it will use the proceeds of the financing to advance the clinical development of Reltecimod, its lead product, into Acute Kidney Injury (AKI), a major unmet clinical need in critically ill patients with severe infections. Atox Bio plans to initiate a Phase 2 clinical study in this indication during 2018. Reltecimod is currently being studied in ACCUTE, a Phase 3 clinical study, in patients with Necrotizing Soft Tissue Infections (NSTI).
“We are excited to welcome such high quality investors into our strong existing syndicate. The closing of this round, which was oversubscribed, reflects the significant achievements we have made to date in the development of Reltecimod,” said Atox Bio CEO Dan Teleman. “Our new investors share Atox Bio’s mission of developing therapies for serious, life threatening, conditions in the critical care setting where no other therapies exist.”
Atox Bio was founded by Prof. Raymond Kaempfer and Dr. Gila Arad from the Hebrew University of Jerusalem, and Yissum, the Hebrew University's technology transfer company.
Published by Globes [online], Israel business news - www.globes-online.com - on December 4, 2017
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