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Venture Capital

Ayala Pharmaceuticals Raises $30M In Series B Financing

by posted 10months ago 88 views
REHOVOT, Israel & WILMINGTON, Del., May 28, 2019-- Ayala Pharmaceuticals, Inc., a clinical-stage company developing medicines for cancers that are genetically defined, today announced the successful completion of a $30 million Series B financing. The investment was led by Novartis with participation from SBI JI Innovation Fund and all existing investors, including Israel Biotech Fund, aMoon and Harel Insurance & Finance Group. The new capital will fuel Ayala’s plans to advance the clinical development of lead product candidate AL101, a pan-Notch inhibitor that is currently being evaluated for adenoid cystic carcinoma (ACC).