December 4, 2017 / 7:01 AM / a year ago

Israel's Atox Bio raises $30 mln in Arix Bioscience-led round

JERUSALEM, Dec 4 (Reuters) - Israeli biotech firm Atox Bio said on Monday it raised $30 million to further develop its leading product as a kidney treatment, in a fundraising round led by U.K.-based Arix Bioscience.

Atox Bio hopes to push forward with clinical development of its immune system treatment Reltecimod for Acute Kidney Injury, which it said is a major unmet clinical need in critically ill patients with severe infections.

Reltecimod is already being studied in a phase 3 clinical study in patients with Necrotizing Soft Tissue Infections, also known as flesh eating bacteria. Atox Bio said it plans to start a phase 2 study in Acute Kidney Injury in 2018.

Arix Bioscience invested $8 million. Other investors in the round included Adams Street Partners, Japanese chemical company Asahi Kasei Corp and existing investors SR One, OrbiMed, Lundbeckfonden Ventures, Becker and Integra Holdings. (Reporting by Ari Rabinovitch, Editing by Tova Cohen)

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