Quark Venture, GF Securities invest $5 mln in Eloxx Pharma

Quark Venture and GF Securities Co Ltd have invested $5 million in Eloxx Pharmaceuticals Ltd, a Rehovot, Israel clinical-stage company that is developing therapeutics to treat genetic diseases caused by non-sense mutations. The investment was part of a $24 million Series C financing led by Pontifax Venture Capital. The funds raised will be used to initiate multiple clinical studies for the company’s lead compound, ELX-02. Quark, a Canadian venture capital firm, and China’s GF Securities are currently raising a $500 million health sciences fund.

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