Jerusalem-based molecular diagnostics startup NovellusDx said OrbiMed, the largest investment firm focused on the healthcare sector, has joined a previously announced $10 million funding round. In December, NovellusDx reportedly raised $10 million in a round led by life sciences investors IntraCure and Pontifax. OrbiMed is said to have invested an additional $2.5 million.

According to CrunchBase, this brings the company’s total funding raised to date to $28.5 million.

NovellusDx, based at the Hadassah Medical Center Campus in Jerusalem, was founded in 2011 by CEO Haim Gil-Ad. NovellusDx delivers actionable intelligence that oncologists require to choose the right therapy for each patient. NovellusDx provides comprehensive, fully-automated, functional gene profiling of individual patient tumors including charting the full landscape of known and unknown mutations that drive the cancer’s progression.

By measuring the activity of signaling pathways, NovellusDx’s FACT functional annotation for cancer treatment assesses the activity of mutations and combination of mutations and their response to targeted drugs. In addition, the FACT system support biopharma companies throughout the entire life cycle of the drug.

Last month, OrbiMed closed its second Israel-focused venture capital fund, OrbiMed Israel Partners II, LP, with approximately $307 million in capital commitments. Investors in the Fund include several of the world’s largest healthcare companies, in addition to dozens of institutional investors and family offices.

“Israel is a compelling locus of life sciences innovation, on par with top regions in the U.S. and Europe,” commented Jonathan Silverstein, co-head of OrbiMed’s global private equity effort. “With this fund we will further accelerate our investment pace in Israel and help nurture local innovations into leading healthcare companies.”

OrbiMed’s Israel office was opened in 2010, and is led by Dr. Nissim Darvish, Erez Chimovits, and Anat Naschitz. OrbiMed’s Israel private equity strategy invests in the full spectrum of Israeli life sciences innovation including pharmaceuticals, biotechnology, medical devices and diagnostics. Portfolio companies range from seed stage to commercial growth equity. OrbiMed’s dedicated local team brings a strong combination of operating, scientific and business experience to help companies develop successfully.

In December, OrbiMed raised $950 million, closing OrbiMed Private Investments VI LP, its sixth venture capital fund.

OrbiMed Advisors was founded by the legendary Samuel D. Isaly, the firm’s Managing Partner. Despite being a paraplegic since high-school as a result of a wrestling accident, he became one of the world’s most recognized healthcare fund managers and has been active in global healthcare investing and analysis since 1968 when he joined Chase Manhattan Bank in New York. During his career, he has been a pharmaceutical analyst with Chase Manhattan Bank, Merrill Lynch, Legg Mason, and S.G. Warburg. Mr. Isaly launched OrbiMed’s asset management business in 1989. Mr. Isaly has a B.A. in Economics from Princeton University and a M. Sc. (Econ.) from The London School of Economics.

OrbiMed is a leading investment firm dedicated exclusively to the healthcare sector, with over $15 billion in assets under management. OrbiMed invests globally across the spectrum of healthcare companies, from venture capital start-ups to large multinational companies utilizing a range of private equity funds, public equity funds, royalty/debt funds, and other investment vehicles. OrbiMed maintains offices in New York City, Herzliya, San Francisco, Shanghai, and Mumbai.

Photo: OrbiMed team.

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