Eloxx raises $24M in series C round

Eloxx Pharmaceuticals Ltd. (Rehovot, Israel) raised $24 million in a series C round led by Pontifax, according to two of its investors. Quark Venture and GF Capital said they invested $5 million from their Global Health Science Fund.

The company's lead candidate, ELX-02, is a synthetic aminoglycoside ELX-02 has Orphan Drug designation in the U.S. and EU to treat mucopolysaccharidosis I (MPS I, Hurler syndrome), for which it is in Phase I testing. Eloxx said the candidate has shown effects in preclinical studies to treat cystic fibrosis, cystinosis, Duchenne muscular dystrophy (DMD) and Rett syndrome...