Billionaire biotech executive invests in competing firm


Opko Health CEO Phillip Frost participated in a recent fundraising round for Eloxx Pharmaceuticals, which specializes in creating treatments for a rare segment of genetic diseases.

Frost participated in the $38 million Series C round alongside Sevion Therapeutics Inc., Pontifax VC and Quark, among other investors. Beyond Sevion’s $8 million investment, Israel-based Eloxx did not disclose specifically how much each party contributed to the capital raise.