Israeli cancer profiling co NovellusDx raises $10m

cancer
cancer

The Jerusalem-based company is developing personalized medicine technology to treat cancer.

Israeli cancer profiling company NovellusDx Ltd. has raised $10 million, investor InterCure Ltd. (TASE: INCR-L) has reported to the Tel Aviv Stock Exchange (TASE). Pontifax has also participated in the financing round for the personalized medicine company, which has 20 employees at its laboratories at Haddasah Medical Center in Jerusalem. The company has raised $16 million to date and the latest investment could expand to $20 million, if certain regulatory and clinical milestones are achieved.

Founded in 2012, NovellusDx identifies tumor - specific driver mutations, but unlike sequencing-based tests, its technology is based on a functional assay that detects dis-regulated translocation of mutated signaling proteins to the nucleus. This allows NovellusDx to identify functionally-impactful driver mutations regardless of whether the mutation has previously been described or linked to a tumor type. The assay also has the capability of measuring the impact of a drug or drug candidate on a specific tumor, specifically in terms of its ability to inhibit the up-regulated signaling protein translocation to the nucleus.

This personalized medicine technology enables NovellusDx to profile the oncogenic activity at the cellular level of the tumor, monitor the outcomes of known and unknown DNA mutations, monitor the effects of the tumor micro-environment, and monitor the activity before and after drug administration.

Published by Globes [online], Israel business news - www.globes-online.com - on December 24, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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