NovellusDx, a Jerusalem based biotech company that is developing a functional assay for cancer diagnostics, today announced that it has reached three significant milestones set in its $12.5M fundraising round (late 2015) which triggers the investment of the remaining funds by the investors.
“We are delighted to have met the three milestones set forth in the investment round,” said Mr. Haim Gil-Ad, Chief Executive Officer of NovellusDx.
“We have reached the milestones in all three verticals: R&D, regulatory, and business development,” said Mr. Gil-Ad. “We have increased the numbers of genes covered by our system, obtained CLIA certification, and delivered successful pharma deals. These milestones demonstrate our ability to execute our ambitious goals and enable us to continue pursuing our ultimate goal – to bring the tools that assist oncologists to better treat their cancer patients and pharma companies develop new drugs for the disease”