Atox Bio, a Ness Ziona, Israel and Chapel Hill, NC –based clinical stage biotechnology company developing novel therapies for critically ill patients, raised $30m in funding.
The round was led by Arix Bioscience plc with participation from Adams Street Partners, Asahi Kasei Corporation and additional undisclosed investors and existing investors SR One, OrbiMed, Lundbeckfonden Ventures, Becker and Integra Holdings. 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.
The company 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).
Led by Dan Teleman, Chief Executive Officer, Atox Bio develops Reltecimod (AB103), a peptide that binds to the CD28 co-stimulatory receptor and restores the host’s appropriate immune response to severe infections.
Reltecimod received Orphan Drug status from the FDA and EMA as well as Fast Track designation.