Atox Bio, a clinical-stage biotechnology company developing novel therapies for critically ill patients, has raised $30 million to advance the clinical development of Reltecimod, its lead product, for acute kidney injury (AKI) — a major unmet clinical need in critically ill patients with severe infections.
Based in Ness Ziona, Atox Bio develops therapies for life-threatening conditions for which no other therapies exist. Reltecimod is currently being studied in a Phase 3 clinical study involving patients with necrotizing soft tissue infections (flesh-eating bacteria).
The company plans to initiate a Phase 2 clinical study for the kidney indication during 2018. AKI affects annually around 3 million patients in the US, Europe and Japan. The only treatment options are dialysis and supportive care.
Reltecimod, which received Orphan Drug status from the FDA and EMA as well as Fast Track designation, is a peptide designed to restore the patient’s appropriate immune response to severe infections.
The investment round was led by Arix Bioscience with participation from Adams Street Partners, Asahi Kasei Corporation and additional undisclosed investors. Existing investors SR One, OrbiMed, Lundbeckfonden Ventures, Becker and Integra Holdings also participated in the financing.
“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 Atox Bio Chief Executive Officer Dan Teleman.
In conjunction with the financing, Arix Bioscience investment manager Jonathan Tobin and Adams Street Partners’ partner Terry Gould will join Atox Bio’s board of directors.
The company was established by Prof. Raymond Kaempfer and Dr. Gila Arad from the Hebrew University of Jerusalem and Yissum.