OrbiMed joins Round B NovellusDx financing
OrbiMed will join a $10-million financing round by closely-held NovellusDx led by IntraCure, a public life science holding company, and Pontifax, a leading Israeli life sciences VC, raising the size of the round to $12.5-million.
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.
NovellusDx will use the proceeds to continue its R&D, as well as build its commercial service lab, increasing the throughput of patients and clinical trials.