Artax Biopharma Closes $26M Financing Round

Artax Biopharma, CambridgeFunding of $26M was raised by a MA-based clinical stage biotechnology firm,.

TheRound was led by Eli LillyAnd CompanyAnd Sound BioventuresParticipation from Advent Life Sciences, Columbus Venture Partners, and Belinda Termeer and other shareholders.

The company intends to use the funds to develop AX-158, its first oral small molecule immunomodulating agent. 

Led by Joseph Lobacki, Chief Executive Officer, Artax Biopharma is a clinical-stage biotechnology company transforming T Cell-mediated disease treatment by developing innovative small molecules that modulate the immune system. Artax science holds broad potential to treat T Cell-mediated diseases such as autoimmune diseases; induced T cell pathologies (such as acute graft-versus-host disease and immune-oncology treatment-related adverse events); and T Cell malignancies, while simultaneously allowing the body to fight foreign pathogens.

AX-158 is a first-in-class, oral small molecule immunomodulating agent in clinical development for the treatment of T Cell-mediated diseases. It employs a first-in-class mechanism of action that selectively modulates inappropriate T cell activation, a cause of autoimmune disease. AX-158 has the potential to treat T Cell-mediated diseases without the risk of immunosuppression. Artax’s ongoing Phase 1 clinical trial is assessing the safety, exposure, pharmacokinetics of AX-158 in healthy volunteers and includes ex vivo stimulated measures of its pharmacodynamic activity. In preclinical studies, AX-158 demonstrated potential to treat T Cell-mediated diseasesBy decreasing key cytokines including INFγ, TNFα, IL-2, IL-1 and IL-6 in whole human blood samples.

FinSMEs

12/05/2022

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