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Novigenix Announces First Closing of its $20M Series B

Novigenix SA

Expansion of Biopharma precision solutions in the field of Immuno-Oncology

LAUSANNE, SWITZERLAND / ACCESSWIRE / November 16, 2022 / Novigenix SA, a leading data-driven precision medicine biotech that develops and commercializes Immuno-Transcriptomic precision oncology solutions, today announced successful first closing of its $20 million Series B financing round with participation from existing and new investors.

Novigenix‘s Liquid Immuno-Transcriptomic (LITOseek) platform provides previously unknown insights into the molecular pathways associated with onset of cancer and their response to therapy. The company has validated its unique approach in Colorectal Cancer (CRC) screening, and provides new molecular insights and predictive algorithms for patient stratification and monitoring of Immunotherapies.

Dr. Miro Venturi, member of the Board of Directors of Novigenix commented "There is currently a great need in oncology for individualized treatment of patients based on their specific immune subtypes in order to improve outcomes and accelerate development of new therapies. The Novigenix platform has demonstrated a unique differentiated approach that can contribute to more effective patient stratification and therapy monitoring".

The proceeds will be utilized to fast track the clinical validation of Novigenix´s second generation NGS-based liquid biopsy CRC screening assay, and development of new immunotherapy patient stratification assays. The immuno-transcriptomic cancer-specific profiles obtained from blood draws are combined with multi-modal information such as patient clinical data to predict response to therapy at baseline, and treatment monitoring following therapy.

"We are grateful for the continued support of our long-term investors and are delighted to welcome new investors to our growing shareholder base." said Dr. Brian Hashemi, Executive Chairman of Novigenix. "This financing round will accelerate expansion of our precision oncology solutions for biopharma applications, and support development of new products on our LITOseek platform to help improve patient outcomes".

About Novigenix

Novigenix is a precision medicine biotech providing a new understanding of the human host response to cancer and its response to therapy. The Company was founded on the vision that Immuno-Transcriptomics will bring unprecedented advances in diagnosing and treating cancer patients, leading to significant improvement in healthcare. Novigenix's unique Immuno-Transcriptomic platform enables an accelerated identification of disease specific mRNA signatures of immune cells, which combined with machine learning and predictive algorithms provide new insights into onset and progression of disease. For more information visit www.novigenix.com

About LITOseek

The Liquid Immuno-Transcriptomic Sequencing Platform of Novigenix, LITOseek, analyzes the gene expression modifications (mRNA signatures) induced by the host immune response to various triggers, such as onset of cancer. Disease specific algorithms are developed through application of Artificial Intelligence on patient mRNA signatures in combination with clinical and medical parameters. The LITOseek platform has been designed and optimized for development of precision oncology solutions based on the human Immuno-Transcriptome, with continuous improvement of predictive and adaptive algorithms.

Contacts

Novigenix
Dr. Brian Hashemi, Executive Chairman
M: +41 78 809 85 44 E:
brian.hashemi@novigenix.com

SOURCE: Novigenix SA



View source version on accesswire.com:
https://www.accesswire.com/726313/Novigenix-Announces-First-Closing-of-its-20M-Series-B