Netanya, an Israel-based biotechnology company developing microbiome oncology therapeutics, Trobix Bio, raised USD 3 million in funding. The round took place on March 30, 2023. Well-established global private investment group, Chartered Group, led the financing for the company.
Purpose of financing for Trobix Bio
With the latest proceeds from the Series A, the company seeks to advance the development of Trobix Bio’s products. It also seeks to expand its cutting-edge proprietary platform technology. The company aims to address the gastrointestinal side effects of oncology treatments and other gastrointestinal diseases impacted by the microbiome.
What the company’s CEO has to say
Dr Adi Elkeles, CEO of Trobix Bio, further said, “In these troubled financial markets, I am grateful to Chartered Group for their trust in our team and confidence in our products and technology. Treating side effects caused by leading cancer therapeutics represents a significant unmet need. I often limit patients’ ability to undergo critical treatments as well as severely reduce their quality of life. This represents a significant opportunity for our business and a moral imperative for our team. We are highly encouraged by our early preclinical data for both TBX201 and TBX301, which are designed to complement Irinotecan and immune checkpoint inhibitor therapeutics. We strongly believe that these treatments may have the capacity to relieve patients’ agonizing side effects, enhancing their quality of life, and facilitate physicians’ ability to deliver more effective treatment regimens with these life-saving medications.”
What the investor has to add
Besides, Eyal Agmoni, Chairman of Chartered Group, which has a technologies’ investment arm that solely invests in disruptive deep tech innovations, said, “Trobix Bio has developed highly promising therapeutic candidates thanks to their revolutionary technology and highly impressive team, experienced in driving continued growth and development. Given our support at this critical time of trying market conditions, we believe they now have the resources to deliver on their promise of addressing significant unmet medical needs. Based on our due diligence, we believe they will deliver products that will make a huge impact on human wellbeing, creating immense value.”
About the company
In 2018, Adi Elkeles launched the company. The biotech company is a pioneer in the field of human microbiome via its TBX™ platform technology. Trobix Bio is developing orally administered cancer-supportive care therapeutics to reduce life-threatening side effects associated with leading oncology therapeutics. The company is on a mission to enable physicians to complete more oncology treatments at optimal doses while improving cancer patients’ quality of life.
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