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Israel's Mitoconix Bio raises $20 million in private funding round
June 27, 2017 / 10:47 AM / a month ago

Israel's Mitoconix Bio raises $20 million in private funding round

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JERUSALEM (Reuters) - Mitoconix Bio, an Israeli biopharmaceutical company focused on treating neurological diseases, said on Tuesday it raised $20 million in an early funding round.

The round was led by Remiges Ventures with participation from OrbiMed, Dementia Discovery Fund, Arix Bioscience, RMGP Bio-Pharma investment Fund and others.

The proceeds will be used to advance Mitoconix Bio's product for the treatment of Huntington's disease through pre-clinical and clinical development and to expand its pipeline to treat additional neurodegenerative disorders by improving mitochondrial function.

Reporting by Steven Scheer

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