Skip to main content
Premium Trial:

Request an Annual Quote

OrbiMed Joins NovellusDx Private Financing Round

NEW YORK (GenomeWeb) – Israeli cancer diagnostics developer NovellusDx announced today that healthcare investment firm OrbiMed has joined a previously announced private financing round, bringing its total value to $12.5 million.

Earlier this month, NovellusDx disclosed that it raised $10 million in a round led by life sciences holding company IntraCure and life sciences venture capital financier Pontifax. The company said today that OrbiMed has now invested an additional $2.5 million.

NovellusDx was founded in 2012 to develop technology to monitor signaling pathways, identify driver mutations in different cancers, and monitor the effects of targeted therapies on those mutations.

The company said it intends to use the proceeds from the financing to continue its R&D efforts and build a commercial services laboratory.