Novigenix SA, a leading data-driven precision medicine biotech that develops and commercialises immuno-transcriptomic precision oncology solutions, announced the 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 the 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, a member of the board of directors of Novigenix, commented: “There is currently a great need in oncology for individualised treatment of patients based on their specific immune subtypes to improve outcomes and accelerate the 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 utilised to fast-track the clinical validation of Novigenix´s second-generation NGS-based liquid biopsy CRC screening assay and the 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 LITO seek platform to help improve patient outcomes.”