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Eloxx Pharmaceuticals Secures US$8 Million Investment from LSP, Increasing Total Raised in Series C to US$38 million
Eloxx Pharmaceuticals Secures US$8 Million Investment from LSP, Increasing Total Raised in Series C to US$38 million.
About this update from Eloxx Pharmaceuticals, Inc.
[{"type":"text","content":"\n\n\n\nEloxx Pharmaceuticals Secures US$8 Million Investment from LSP, Increasing Total Raised in Series C to US$38 million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nEloxx Pharmaceuticals Secures US$8 Million Investment from LSP, Increasing Total Raised in Series C to US$38 million\nFinancing to support advancement of novel disease-modifying therapy targeting genetic diseases, including cystic fibrosis\nPR Newswire\nSAN DIEGO and REHOVOT, Israel, Aug. 2, 2017\n\n\n\nSAN DIEGO and REHOVOT, Israel, Aug. 2, 2017 /PRNewswire/ -- Sevion Therapeutics, Inc. (OTCQB: SVON) and Eloxx Pharmaceuticals Ltd., a clinical stage company developing therapeutics for genetic diseases caused by nonsense mutations, announced today the closing of additional  US$8 million investment in Eloxx Pharmaceuticals led by LSP, a leading healthcare investor. The investment increases the total Series C financing raised by Eloxx to a total of US$38 million. By raising this amount, Eloxx finalized their Series C financing round. \n\nThe other participants in the current Series C financing include: Pontifax VC, Dr. Phil Frost, OPKO Health Inc. (NASDAQ: OPK), Quark, Catalyst, KIP, DSC Funds, and additional private investors.\n\n\"We are very pleased to have attracted an outstanding global syndicate of investors to participate in our Series C financing. The latest investment from LSP is a validation from one of the best life science funds in the world,\" said Eloxx's CEO and co-founder Dr. Silvia Noiman. \"With the funds from the Series C, we anticipate advancing our lead product candidate, ELX-02, into multiple Phase 2 studies later this year\". \n\nOn June 2, 2017, Sevion and Eloxx announced the signing of a definitive agreement for an acquisition transaction. Under the terms of the agreement, Eloxx will become a wholly owned subsidiary of Sevion. Upon completion of the transaction, Sevion will change its name to Eloxx Pharmaceuticals, Inc. and intends to apply to have its shares listed for trading on NASDAQ. Eloxx is planning to initiate multiple clinical studies for ELX-02, its lead ...