Atox Bio, a clinical biotechnological 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 the participation of 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 process. In conjunction with funding, Jonathan Tobin, PhD, MBA, Investment Manager at Arix Bioscience, and Terry Gould, Partner & Head of Venture/Growth Investments at Adams Street Partners, will join the Board of Directors of Atox Bio.
Atox Bio will use the proceeds of funding to advance the clinical development of its leading product, Reltecimod, in Acute Kidney Injury (AKI), a major unmet clinical need in critically ill patients with severe infections. Atox Bio plans to launch a phase 2 clinical study in this indication in 2018. Reltecimod is currently being studied in the Phase 3 clinical trial of ACCUTE in patients with Necrotizing Soft Tissue Infections (NSTI)
“We are excited to welcome such high-quality investors to our strong existing syndicate. The completion of this round, which has been 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 the mission of Atox Bio to develop therapies for serious, life-threatening conditions in critical care where no other therapies exist. “That’s right.
“We are very pleased to be leading this funding round for Atox Bio,” said Jonathan Tobin. “NSTI and AKI are critical to 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. “That’s right.
On the Reltecimod
Reltecimod (AB103) is a rationally designed peptide that binds to the CD28 co-stimulatory receptor and restores the host’s 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, which could otherwise quickly lead to morbidity and mortality. Reltecimod received the status of Orphan Drug from the FDA and EMA as well as the Fast Track designation.
ACCUTE About
Phase 3 ACCUTE (AB103 Clinical Composite Endpoint Study in Necrotizing Soft Tissue Infections) is an ongoing randomized, placebo-controlled study that plans to enroll 290 NSTI patients at approximately 60 level 1 trauma sites in the U.S. Patients receive Reltecimod or placebo, given as a single dose during or shortly after surgical debridement, in addition to the standard of care treatment. The primary endpoint is a clinical composite that evaluates both the local and systemic components of the disease.
Acute Kidney Injury
Acute Kidney Injury (AKI) involves inflammatory processes in the kidney that can lead to a permanent reduction in kidney function and is also associated with an increased risk of death, extended hospitalization and increased medical costs. AKI affects approximately 3 million patients annually in the United States, Europe and Japan. There are currently no AKI treatments available and the only treatment options are dialysis and supportive care.
Necrotizing Soft Tissue Infections (NSTI)
NSTI, commonly referred to as ‘flesh eating bacteria,’ is the most serious type of infection involving the skin, skin structure and soft tissues. NSTIs progress quickly 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 physiological support, in addition to antibiotics.
About Bio-Atox
Atox Bio is a late-stage clinical biotechnology company that develops novel immune modulators for critically ill patients with severe infections. Atox Bio has a contract underway No HHSO100201400013 with the Biomedical Advanced Research and Development Authority (BARDA) to support the development of Reltecimod in NSTI The company was set up by Prof. Raymond Kaempfer, Dr. Gila Arad of the Hebrew University of Jerusalem and Yissum. For more information, please visit http://www Atoxbio’s Com/Com
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