Israeli functional genomics and cancer profiling company NovellusDx today announced it has completed a $6 million financing round with the participation of Helsinn Investment Fund S.A. SICAR, part of Helsinn Group, a leading cancer care company, Bio Capital Impact Fund, and Windham Venture Partners. The company has raised $23 million to date.
NovellusDx CEO Haim Gil-Ad said, “The additional funds will allow us to accelerate the execution of our strategy, move into commercialization and enable us to meet the need for functional oncology worldwide. This funding will also support continuing development and enhancement of NovellusDx’s technology using our excellent R&D team in Jerusalem."
Founded in 2011 and located at the Hadassah Ein Kerem campus in Jerusalem, NovellusDx’s technology monitors the activity level of signaling pathways and identifies which patient mutations are driver mutations. It further monitors cross-talk interaction between mutations and genes, and monitors the effect of targeted therapies on the mutations. NovellusDx provides a concise report for the oncologist, outlining the relative contribution of each of the driver mutations to the activation of the signaling pathways, and the effects of different targeted therapy options, including combination therapy.
“We are excited to invest in NovellusDx and support their aim to lead the functional genomics revolution” said Roberto De Ponti, Head of New Venture and Strategic Investment at Helsinn International Services sarl. “NGS has revolutionized cancer care and now we have the opportunity to take it one step further to functionally test the mutations found and their response to drugs. This is the true promise of personalized medicine in cancer.”
Published by Globes [online], Israel business news - www.globes-online.com - on April 30, 2018
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