Arixa Pharmaceuticals, Inc., a Palo Alto, CA-based company developing oral antibiotics for drug-resistant Gram-negative infections, closed an $8m seed financing.
The current financing – which brings total capital raised to $13m – includes the new participation of prominent family offices, as well as existing investors.
The company intends to use the funds to conduct a Phase 1 human clinical study of its lead candidate, ARX-1796, a proprietary, orally available prodrug of Avibactam, an FDA-approved beta-lactamase inhibitor that previously could be delivered only by intravenous injection.
Led by John Freund, MD, co-founder and Chief Executive Officer, and Eric Gordon, PhD, co-founder and Chief Scientific Officer, Arixa is developing oral antibiotics for resistant Gram-negative infections, an urgent need. The company’s lead candidate, ARX-1796, is a proprietary orally available prodrug of Avibactam®, a broad spectrum beta-lactamase inhibitor recently approved by the FDA. The company’s technology platform applies prodrug chemistry to existing intravenous-only antimicrobial agents to allow their active ingredients to be orally administered. ARX-1796 is anticipated to enter Phase 1 clinical testing in 2019.