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China Everbright Limited (“CEL”, stock code: 165.HK) is proud to announce that Eloxx Pharmaceuticals Inc. (OTCQB:ELOX, “Eloxx”), a portfolio company of the Catalyst-CEL China Israel Fund (“The Fund”), has begun trading as a public company on the OTCQB stock exchange, a US based Over-the-Counter exchange. Eloxx Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company that develops molecule medicines to treat rare and ultra-rare genetic diseases caused by non-sense mutations. 

Eloxx listed on the OTCQB on December 20th following the completion of a planned acquisition transaction with Sevion Therapeutics Inc.. The combined listed company will be known as Eloxx Pharmaceuticals Inc..

Eloxx has been running their first round of clinical trials for their read-through therapy drug ELX-02 since last November. The drug is designed to increase translation and restoring activity of the mutated proteins in genetic mutations.

Eloxx is headquartered in Waltham, Massachusetts, USA, with its R&D centre based in Rehovot, Israel. They are the fifth investment made by the Fund. “We are excited for Eloxx Pharmaceutical’s prospects going forward,” said Shengyan Fan, Managing Partner of the Fund and Head of Merger and Acquisition Department at CEL. “Eloxx is breaking new ground in the treatment for rare genetic diseases, and we are looking forward to seeing their development in the near future.” The OTCQB is a trading platform for venture companies to fulfil listing requirements as a public company before trading on larger platforms such as the NASDAQ and NYSE.

The Fund’s previous investments include Lamina Technologies, a manufacturer of state-of-the-art, precision carbide metal cutting tools; XJet, the world's pioneering technology of inkjet-based 3D printing system for metal and ceramic parts; Taboola, a leading Israeli-founded and US-based online content discovery platform, and SatixFy, a leading provider of satellite and quasi-satellite communication technology.