Trobix Innovation Ltd. an Israeli-based biotechnology company developing therapies to remove the threat of antimicrobial resistance, announces the closing of a $3 million Series A funding led by its lead investor, Chartered Opus. The funding will be used to advance the company's antimicrobial resistance platform technology and to further the pre-clinical development of its lead product, TBX101, which aims to treat patients carrying gut antimicrobial-resistant bacteria, resulting in antibiotic sensitive gut microbiome.
"I am grateful to Chartered Opus for their confidence in our technology and their trust in our team", said Dr. Adi Elkeles, Founder & CEO of Trobix Bio, which was founded in 2018. "Antimicrobial-resistant threatens to undermine the achievements of modern medicine, and Trobix Bio is committed to developing products that can effectively tackle this imminent threat", he added.
Antimicrobial resistance is a big issue, especially following the outbreak of the COVID-19 pandemic. According to the World Health Organization (WHO), microorganisms such as bacteria, fungi, viruses, and others develop a resistance once introduced to antimicrobial drugs like antibiotics. In light of the Coronavirus, effective treatments become a must, as they affect treatments that become ineffective, further allowing viruses to spread or diseases to take over.
Without a clear solution for the microbial resistance, the BioTech world continues to witness medical procedures such as organ transplants, cancer chemotherapy, diabetes management and major surgery (for example, cesarean sections or hip replacements) become very high risk. Which is not only scary on medical treatment level but also significantly increases healthcare costs, with prolonging hospital stay and more intensive care required. This is exactly where solutions like the one of Trobix Bio comes into play.
"The Covid-19 pandemic stresses the urgent need to tackle the global challenges of infectious diseases, and the global need for a solution to the threat of antimicrobial resistance was there from day one", says Eyal Agmoni, Chairman of Chartered Group. "Trobix Bio is set to revolutionize the landscape of phage-based nanomedicine by introducing its game-changing, precision particle disruptive technology. We are very happy with the progress made by the team and are glad to be part of this unique venture".