NovellusDx, a Jerusalem, Israel-based functional genomics company, completed a $6m equity financing.
Backers in the round, which adds to the nearly $17m already raised, included Helsinn Investment Fund S.A. SICAR, part of Helsinn Group, a cancer care company, Bio Capital Impact Fund, and Windham Venture Partners.
The company intends to use the funds to accelerate the execution of its strategy, move into commercialization, support continuing development and enhancement of its technology using the R&D team in Jerusalem.
Led by Haim Gil-Ad, CEO, NovellusDx provides functional information about mutations and their responses to drugs, which enables oncologists to treat patients with precision therapies and bio-pharmaceutical companies to develop drugs more effectively. The approach is to monitor the functional effects of mutations and observe the effects of drugs, drug combinations and drug candidates on the activity level caused by the mutations.