Artax Biopharma, a Cambridge, MA-based clinical-stage biotechnology company focused on improving the treatment of autoimmune diseases, raised $8M in convertible debt funding.
Backers included Eli Lilly and Company, Advent Life Sciences, Columbus Ventures, Sound Bioventures and Belinda Termeer.
The company intends to use the funds to expand operations and its R&D sector.
Led by CEO Rob Armstrong, Artax Biopharma is a clinical-stage biotechnology company innovating the treatment of T Cell-driven autoimmune diseases. Its oral small molecules aim to deliver immune system modulation without immunosuppression, potentially unlocking new treatment options as both monotherapy and in combination with other treatments. Artax’s lead asset, AX-158, is the first in a new class of Nck blockers, which have the potential to establish a new standard of care in autoimmune disease treatment. The molecule acts by selectively targeting Nck function, which plays a critical role in immune system function, and recalibrates the body’s T-cell receptor (TCR) responses. This recalibration to responses allows the immune system to continue functioning properly and activate only when it recognizes true disease threats – preventing self-activation without causing immune suppression that makes the body susceptible to numerous infections. Results from the Phase 2a clinical trial in psoriasis is expected before year end.
FinSMEs
06/08/2024