Atox Bio Closes $30 Million Investment
Funds will support Phase 2 study of Reltecimod for Acute Kidney Injury; Phase 3 study of Reltecimod for Necrotizing Soft Tissue Infections (“flesh eating bacteria”) ongoing Ness Ziona, Israel and Chapel Hill, NC – December 4, 2017 – Atox Bio, a clinical stage biotechnology company developing novel therapies for critically ill patients, today announced that it has raised $30 million.
The round was led by Arix Bioscience plc 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. 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.
Atox Bio 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).
“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 Dan
Teleman, Chief Executive Officer of Atox Bio. “Our new investors share Atox Bio’s
mission of developing therapies for serious, life threatening, conditions in the critical care
setting where no other therapies exist.”
“We are delighted to lead this financing round for Atox Bio,” said Jonathan Tobin.
“NSTI and AKI are critical unmet medical needs, and we look forward to supporting
Atox Bio in developing potentially ground-breaking, valuable treatments for patients with
these life threatening conditions.”
About Reltecimod
Reltecimod (AB103) is a rationally designed peptide that binds to the CD28 costimulatory
receptor and restores the host’s appropriate immune response to severe
infections. By modulating, but not inhibiting, the body’s acute inflammatory response,
Reltecimod is designed to help control the cytokine storm that could otherwise quickly
lead to morbidity and mortality. Reltecimod received Orphan Drug status from the FDA
and EMA as well as Fast Track designation.
About ACCUTE
The phase 3 ACCUTE (AB103 Clinical Composite endpoint StUdy in necrotizing soft
Tissue infEctions) study is an ongoing randomized, placebo-controlled study, that plans
to enroll 290 patients with NSTI at approximately 60 level 1 trauma sites in the US.
Patients receive Reltecimod or placebo, administered as a single dose during or shortly
after surgical debridement, in addition to standard of care treatment. The primary end
point is a clinical composite that evaluates both the local and systemic components of this
disease.
About Acute Kidney Injury
Acute Kidney Injury (AKI) involves inflammatory processes in the kidney which can
lead to permanent reduction of kidney function and is also associated with an increased
risk of death, extended hospitalization, and increased medical cost. AKI affects annually
around 3 million patients in the US, Europe and Japan. There are currently no available
therapies to treat AKI and the only treatment options are dialysis and supportive care.
About Necrotizing Soft Tissue Infections (NSTI)
NSTI, commonly referred to as “flesh eating bacteria”, represent the most severe types of
infections involving the skin, skin structure and soft tissues. NSTIs progress rapidly and
often result in significant tissue destruction and systemic disease leading to multiple organ dysfunction, failure and death. Currently, there are no approved treatments for NSTIs – the standard of care includes prompt and repeated surgical debridement, aggressive resuscitation and physiologic support, in addition to antibiotics.
About Atox Bio
Atox Bio is a late stage clinical biotechnology company that develops novel immune modulators for critically ill patients with severe infections. Atox Bio has an ongoing contract No. HHSO100201400013 with the Biomedical Advanced Research and Development Authority (BARDA) supporting the development of Reltecimod in NSTI. The Company was established by Prof. Raymond Kaempfer and Dr. Gila Arad from the Hebrew University of Jerusalem and Yissum.
Media Contact:
Tsipi Haitovsky
Global Media Liaison
Atox Bio
+972-52-598-9892
Tsipihai5@gmail.com
