Eloxx Pharmaceuticals, a Rehovot, Israel-based clinical stage company developing therapeutics to treat genetic diseases caused by non-sense mutations, raised US$24m in Series C funding.
The round was led by Pontifax, co-founder of Eloxx Pharmaceuticals, with participation from Quark Venture and GF Securities’ Global Health Science Fund.
The company intends to use the funds to continue to expand its development efforts.
Led by CEO and co-founder Dr. Silvia Noiman, Eloxx is advancing, ELX-02, a compound which gives the opportunity to potentially be the first disease-modifying therapy to treat a set of devastating diseases, for which there are no effective treatments.
ELX-02 has shown pharmacological, pharmacodynamic and physiological effects in several animal models of genetic disease cause by nonsense mutations including Cystic Fibrosis, Cystinosis, Duchene Muscular Dystrophy and Rett Syndrome.