Arix Bioscience leads $30 million financing for Atox Bio

4th December 2017

Funding to advance Reltecimod into a Phase 2 clinical study for acute kidney injury, building upon Atox Bio’s on-going Phase 3 clinical development in necrotising soft tissue infections

Arix achieves target of 12 Group Businesses by the end of 2017, successfully building a balanced group with multiple, potentially significant milestones over the next 12 months

LONDON, 4 December 2017:

Arix Bioscience plc (LSE: ARIX) (“Arix Bioscience” or “Arix”), a global healthcare and life science company supporting medical innovation, today announces that it has led an oversubscribed $30 million Series F financing round for Atox Bio. Atox Bio is a late stage clinical biotechnology company developing novel immune modulators for critically ill patients with severe infections including necrotising soft tissue infections (NSTI) and acute kidney injury (AKI).

The $30 million fundraising led by Arix Bioscience included new investors Adams Street Partners, Asahi Kasei Corporation and additional undisclosed investors, alongside existing investors SR One, OrbiMed, Lundbeckfonden Ventures, Becker and Integra Holdings.

Arix Bioscience is investing $8 million for an equity stake in Atox Bio. As part of the financing, Arix Bioscience’s Jonathan Tobin will join Atox Bio’s Board of Directors.

Atox Bio’s lead therapeutic candidate, Reltecimod, is a novel peptide that modulates the body’s immune response, lowering the risk of potential morbidities and mortality. Reltecimod received Orphan Drug status from the FDA and EMA as well as Fast Track designation. Atox Bio is conducting a Phase 3 clinical study of Reltecimod for patients with NSTIs, and will start a Phase 2 clinical study for AKIs in 2018.

Joe Anderson, Chief Executive Officer of Arix Bioscience, commented: “We are pleased to have led this successful financing round for Atox Bio, which is developing therapies for severe, potentially life-threatening conditions in the critical care setting where no other therapies exist. Necrotising soft tissue infections and acute kidney injury are major unmet medical needs, and we look forward to supporting the company to develop treatments that would be potentially life-changing for patients.

“With this high quality deal, Arix Bioscience has met the target we set out at our IPO to have 12 Arix Group Businesses by the end of 2017. Over the coming months, our Group Businesses will reach multiple, potentially significant milestones which, if successful, will support the further development of breakthrough innovation for patients and value for shareholders.”

“We are excited to welcome such high quality investors into the existing strong syndicate. The success of this round reflects the significant achievements we have made to date in the development of Reltecimod and recognition of the critical unmet medical need for treatments for NSTI and AKI.”

Dan Teleman, Chief Executive Officer of Atox Bio