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)
