Catalyst CEL Fund announced that it had invested in Eloxx Pharmaceuticals Limited, a clinical-stage company developing therapeutics for genetic diseases caused by so-called “nonsense” mutations. In the US$24 million investment round, Catalyst CEL Fund is one of the lead investors, together with Israeli life sciences venture capital fund Pontifax and other leading industry players.

Eloxx Pharmaceuticals is a biopharmaceutical company committed to treating patients suffering from rare genetic diseases caused by [jargon alert!] premature termination codons nonsense mutations. The company is focused on the discovery, development and commercialisation of compounds for the treatment of genetic diseases, including cystic fibrosis and cystinosis.

Yair Shamir, Managing Partner of Catalyst CEL Fund, said: “We believe that Eloxx is on track to become the innovative leader in the development of drugs addressing rare and ultrarare genetic diseases, based on the company’s unique abilities to restore full-length functional proteins in genetic diseases.”

Silvia Noiman, Founder and CEO of Eloxx said: “The company aims to initiate multiple clinical studies for ELX-02, our lead development candidate. Importantly, we anticipate achieving substantial clinical milestones over the course of 2017 and 2018, particularly in our lead clinical programs in cystic fibrosis and cystinosis patients carrying nonsense mutations.”