NovellusDx expands board, raises $10-million

Closely-held NovellusDx of Israel has appointed Heiner Dreismann and Dr. Charles Woler to the board.

“The appointment of Drs. Dreismann and Woler, both venerated leaders in the biotech and pharma industries, with strong track records of success, is consistent with our effort to bring the best talent to NovellusDx and rapidly become the leader in personalized medicine,” CEO, Haim Gil-Ad, said in a statement.

“2016 has begun extremely well for NovellusDx, with new funding and strategic partnerships aiding the development of our transformative functional assay,” he added.

Dr. Dreismann had a successful career with the Roche Group from 1985 to 2006, where he held several senior positions, including president and CEO of Roche Molecular Systems, head of Global Business Development of Roche Diagnostics, and membership in Roche’s Global Diagnostic Executive Committee.

Dr. Woler’s positions have included CEO of Roche France, CEO of SmithKline Beecham’s European pharmaceutical business (London), CEO of Cadus Pharmaceuticals (US), CEO of Neuro3d & Endotis Pharma (France), and recently Biomnis (France).

NovellusDx recently raised $10-million in a private financing round led by IntraCure, a public life science holding company, and Pontifax, a leading Israeli life sciences VC. The investment round also includes an option for an additional $10-million.

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.