Ayala aligns with corporates for $30m series B

May 30, 2019 • Jack Hammond

The cancer drug developer has closed a series B round led by development partner Novartis that included Harel Insurance and Finance and SBI JI Innovation Fund.

Pharmaceutical firm Novartis led a $30m series B round for Israel-based oncology therapy developer Ayala Pharmaceuticals on Tuesday that included insurance group Harel Insurance and Finance.

The round also featured financial services firm SBI, which invested through biotechnology-focused vehicle SBI JI Innovation Fund, as well as life sciences investment funds Israel Biotech Fund and aMoon.

Founded in 2017, Ayala is developing drugs that are intended to treat patients suffering from genetically defined cancers. The therapies are based on two…

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