SAN DIEGO (April 2, 2018) – 10xBio, LLC, a privately-held biotechnology company, completed a Series A financing from a select group of partners and private investors during the first quarter of 2018. Capital raised totaled $2,660,000 including conversion of outstanding notes. Proceeds will be used to advance the company’s lead asset, 10XB101, into Phase 1b/2a testing. The company anticipates the completion of initial clinical testing by the end of 2018.
John Dobak, M.D., the company’s Chairman commented, “We would like to thank our investors and partners that participated in this round, and we look forward to establishing safety and proof of concept efficacy in our first human trials commencing in the first quarter this this year.”
We are a biotechnology company that focuses on new uses for existing therapies and technologies. This strategy allows us to build on existing safety profiles and leverage known mechanisms of action, resulting in a streamlined development and regulatory process. Our most advanced asset, 10XB101, is a pharmaceutical product that addresses unmet needs in dermatologic medicine. For more information, visit us at www.10xBio.com.
John Dobak, M.D.