Skip to main content
Premium Trial:

Request an Annual Quote

NovellusDx Raises $6M in Equity Financing Round

NEW YORK (GenomeWeb) – NovellusDx announced today that it has raised $6 million in equity financing.

Helsinn Investment Fund SA SICAR, BioCapital Impact Fund, and Windham Venture Partners all participated in the funding round. The company said it had also previously raised nearly $17 million.

In a statement, NovellusDx CEO Haim Gil-Ad said the funding will allow the firm to commercialize and support continuing development and improvement of its next-generation sequencing technology.

Jerusalem-based NovellusDx uses its functional annotation for cancer treatment (FACT) assay to test the responses of variants of unknown significance to various cancer treatments to predict clinical results.

"NovellusDx has developed a unique solution to a large unmet need in cancer by completing the 'treatment stack': biopsy, NGS, functional mutation testing and drug response," Windham Venture Partners Cofounder and Managing Director Adam Fine said in the statement. "The technology can open up the full potential of NGS and cancer therapeutics."

Novellus previously announced in March that it had partnered with Centre Léon-Bérard to gauge the accuracy of its FACT assay in predicting treatment response in cancer patients.

The Scan

Machine Learning Helps ID Molecular Mechanisms of Pancreatic Islet Beta Cell Subtypes in Type 2 Diabetes

The approach helps overcome limitations of previous studies that had investigated the molecular mechanisms of pancreatic islet beta cells, the authors write in their Nature Genetics paper.

Culture-Based Methods, Shotgun Sequencing Reveal Transmission of Bifidobacterium Strains From Mothers to Infants

In a Nature Communications study, culture-based approaches along with shotgun sequencing give a better picture of the microbial strains transmitted from mothers to infants.

Microbial Communities Can Help Trees Adapt to Changing Climates

Tree seedlings that were inoculated with microbes from dry, warm, or cold sites could better survive drought, heat, and cold stress, according to a study in Science.

A Combination of Genetics and Environment Causes Cleft Lip

In a study published in Nature Communications, researchers investigate what combination of genetic and environmental factors come into play to cause cleft lip/palate.