Artax Biopharma has raised USD 8 million in a convertible debt funding round participated by Eli Lilly and Company, Advent Life Sciences, Columbus Ventures, Sound Bioventures, and Belinda Termeer.

The funding will support the development of its lead program, AX-158, for treating autoimmune diseases. The first-in-class Nck blocker acts by selectively targeting the Nck function, which plays a critical role in immune system function and recalibrates the body's T-cell receptor (TCR) responses. The company expects to present data from the Phase IIa clinical trials, focusing on psoriasis patients, within the year. 

Artax Biopharma is a biotechnology company focused on developing treatments for T cell-driven autoimmune diseases. Its novel approach involves first-in-class oral small molecules designed to modulate the immune system without causing immunosuppression. This method holds the potential to provide new treatment options both as standalone therapies and in combination with other treatments.

Analyst QuickTake: In June 2023 , the company presented positive results from a Phase I clinical study of AX-158. According to the data presented, AX-158 is claimed to have shown no adverse side effects, was well-tolerated in varying doses, and showed a consistent pharmacokinetic profile among healthy volunteers.