NovellusDx Announced Today the Completion of the First Phase of an In-vitro Study of BioMed Valley Discoveries' BVD523

JERUSALEM, June 21, 2017 /PRNewswire/ -- NovellusDx announced today the completion of the first phase of an in-vitro study to characterize the functional activity of ERK1/2 mutations, and their response to BioMed Valley Discoveries' lead compound BVD523.

"The MAPK signaling pathway is canonical and controls cell growth, proliferation, and survival. It has aberrant signaling activity in many cancer types due to a very large number of mutations of diverse types. Because of its importance, the MAPK pathway has been at the focus of drug discovery and development for many years" said Michael Vidne, PhD, Chief Commercial Officer at NovellusDx. "We are happy that we are able to accelerate the drug development and potentially help it reach more patients with our novel, live-cell based assay to monitor the activity of mutations and their response to drugs."

About BioMed Valley Discoveries
BioMed Valley Discoveries is a clinical stage biotechnology company focused on addressing unmet medical needs in a variety of therapeutic and diagnostic areas. In addition to the ERK inhibitor, BVD's portfolio includes an oncolytic bacteria that has completed enrollment for Phase I, a selective phosphoinositide 3-kinase gamma inhibitor in late preclinical testing, and two early-stage antibodies targeting the tumor microenvironment.

Operating since 2007, BioMed Valley Discoveries was established by Jim Stowers Jr., founder of the asset management firm American Century Investments, and his wife Virginia, to advance new medical innovations to improve the lives of patients with difficult-to-treat diseases. BVD is owned by a supporting organization of the Stowers Institute for Medical Research, a non-profit, basic biomedical research organization. Profits from BioMed Valley Discoveries accrue to the benefit of the Stowers Institute.

About NovellusDx
NovellusDx' mission is to provide functional information about mutations and their responses to drugs, so that oncologists can treat patients with precision therapies, and bio-pharmaceutical companies can develop drugs more effectively. NovellusDx approach is to monitor the functional effects of mutations and observe the effects of drugs, drug combinations and drug candidates on the activity level caused by the mutations. NovellusDx headquarters and R&D are based in in Jerusalem, Israel.

Contact
On behalf of NovellusDx:
Evan Weinberg, Burns McClellan
212-213-0006

SOURCE NovellusDx