Atox Bio closes $30M round as it speeds through late-stage trials
Israel’s Atox Bio has raised $30 million — the latest in a long line of equity deals — to help push its immune modulators through late-stage clinical trials.
The company is working on immune modulators for patients with severe infections and tissue injury. The company’s lead drug, called Reltecimod, is a peptide that modulates the body’s immune response, boosting the patient’s ability to fight infection while reducing the likelihood of tissue damage to key organs during inflammatory responses to severe infections or injuries.
The drug already got orphan drug status from both the FDA and EMA, along with fast track designation. Atox Bio is in Phase III clinical studies in patients with necrotizing soft tissue infections, and will start a Phase II trial in acute kidney injury in 2018.
The Series F round was led by London VCs Arix Bioscience, which chipped in $8 million to the total haul.
“We are pleased to have led this successful financing round for Atox Bio, which is developing therapies for severe, potentially life-threatening conditions in the critical care setting where no other therapies exist,” said Arix CEO Joe Anderson in a statement. “Necrotising soft tissue infections and acute kidney injury are major unmet medical needs, and we look forward to supporting the company to develop treatments that would be potentially life-changing for patients.”
Arix was joined by new investors Adam Street Partners, Asahi Kasei Corporation and additional undisclosed investors. Existing investors SR One, OrbiMed, Lundbeckfonden Ventures, Becker, and Integra Holdings also joined the round.
As part of the deal, Atox gets a new board member in Jonathan Tobin, an investment manager at Arix.
Founded in 2003 and led by CEO Dan Teleman since 2010, Atox Bio has done several equity deals since inception, most recently a $23 million Series E round.