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NEW YORK – Israel-based drug developer Novellus announced on Tuesday that it has raised $57 million in a Series C funding round that it will use to advance the development of precision oncology assets in its pipeline.

The financing round was led by Pontifax, and included OrbiMed Advisors, HBM Healthcare Investments, Wellington Management, Cormorant Asset Management, Novartis Venture Fund, SR One, and existing investors.

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