Atox Bio, a clinical stage biotechnology company developing novel immunomodulators for critically ill patients, has raised $30 million.
The round was led by Arix Bioscience plc with participation from Adams Street Partners, Asahi Kasei Corporation, and additional undisclosed investors.
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Existing investors SR One, OrbiMed, Lundbeckfonden Ventures, Becker and Integra Holdings also participated in the financing. In conjunction with the financing, Jonathan Tobin, PhD, MBA, investment manager at Arix Bioscience, and Terry Gould, Partner & Head of Venture/Growth Investments at Adams Street Partners, will join Atox Bio’s board of directors.
Founded in 2003 by Prof. Raymond Kaempfer and Dr. Gila Arad from the faculty of medicine at the Hebrew University, Atox Bio is a late-stage biotechnology company that developsfor critically ill patients.
Atox Bio 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 Dan Teleman, Chief Executive Officer of Atox Bio. “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.”
“We are delighted to lead this financing round for Atox Bio,” said Jonathan Tobin. “NSTI and AKI are critical unmet medical needs, and we look forward to supporting Atox Bio in developing potentially ground-breaking, valuable treatments for patients with these life threatening conditions.”
