Atox to flesh out activities with $23m

Jul 28, 2014 • Joanne Faulkner

Biotech company Atox Bio has raised $23m from a syndicate of SR One, Lundbeckfond Ventures and OrbiMed for the treatment of flesh eating bacteria.

Israel- based biotech company Atox Bio has secured $23m in a series E round led by SR One, the corporate venturing subsidiary of pharmaceutical company GlaxoSmithKline.

The round also featured life sciences venture fund Lundbeckford Ventures and the Israel-based arm of venture capital firm OrbiMed, OrbiMed Israel.

Atox Bio develops therapeutics for severe infections. The funding will be used to initiate a late stage clinical study of AB103, a treatment for flesh eating bacteria, which is expected to begin in 2015.

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