Ayala Pharmaceuticals Inc., a company developing small-molecule therapies for genetically defined cancers, has completed a $30 million series B financing. The Rehovot, Israel-based startup said the funds will fuel plans to advance its lead candidate, a Notch inhibitor called AL-101, through a phase II study in adenoid cystic carcinoma (ACC) and into a second midstage study in triple-negative breast cancer (TNBC). Novartis AG, Ayala's partner on a second candidate for the potential treatment of multiple myeloma, AL-102, led the financing with a $10 million equity investment. Other participants included SBI JI Innovation Fund, a partnership between the Japanese-based financial services group SBI Holdings and Vertex Venture Capital, and all Ayala's previous investors.