Novellus raises $57 million.

Israeli clinical stage biotechnology company Novellus, Ltd., specializing in precision oncology, announced the closure of its Series C funding round in which the company raised $57 million.  The round was led by venture capital firm Pontifax with the participation of OrbiMed Advisors, HBM Healthcare Investments, Wellington Management, Cormorant Asset Management, Novartis Venture Fund (NVF) and SR One.
Novellus focuses on the development of compounds for established oncogene drivers with a high incidence of uncharacterized mutations. Novellus’ leading project, PLX-8394, is in clinical development.
The company was founded in 2011.