California’s MENLO PARK — –To provide a new standard of treatment for multiple sclerosis (MS) and other neurological illnesses, Octave Bioscience, a premier precision care firm, announced the conclusion of a USD 30M extension to its Series B fundraising round. Along with participation from all current investors such as The Blue Venture Fund, Echo Health Ventures, Section 32, Northpond Ventures, Deerfield Management, Casdin Capital, and Merck Global Health Innovation Fund, the round included:
- New strategic investors Novartis (dRx Capital).
- Hikma Pharmaceuticals’ venture capital arm.
- Hikma Ventures.
- Intermountain Ventures.
This money will hasten commercialization efforts so that more multiple sclerosis patients can benefit from Octave’s multimodal treatment.
“The strength and breadth of our investment partners illustrate the impact our solution has across the entire healthcare ecosystem — physicians, payers, pharma, and most importantly, patients,” said William Hagstrom, Octave’s founder and CEO. “Our multimodal precision care solution offers tools, insights, and a platform that supports a tailored approach to patient care, better treatment choices, and better results. We have made significant progress in implementing our treatment for multiple sclerosis patients. We are grateful to our enlightened investors who understand and respect our strategy and approach and who support this crucial objective.
In order to provide a holistic picture of the patient, including disease activity levels and illness progression, Octave delivers a complete precision care solution that integrates blood biomarkers, increased imaging capabilities, and clinical insights. These unbiased insights give physicians, payers, pharmaceutical companies, and patients the tools they need to measure, monitor, and manage these illnesses more accurately. After being commercially released in the latter half of 2022, Octave is now being used in numerous MS Centers of Excellence, academic institutions, and busy independent clinics nationwide. The company, which includes pharmaceutical firms and health insurers, is aggressively building physician alliances and offering precision care skills to solve challenges, issues, and unmet requirements in the MS ecosystem.
Lana Ghanem, Managing Director of Hikma Ventures, says, “We are impressed with Octave’s comprehensive solution and its ability to help address the enormous unmet need for patients with neurodegenerative diseases.” “Octave is redefining how MS is treated and managed by providing an end-to-end solution that optimizes and personalizes care. We are delighted to help Octave with their crucial work because of the significant success they have made in MS.
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 and other neurological illnesses, Octave Bioscience, a premier precision care firm, announced the conclusion of a USD 30M extension to its Series B fundraising round. Along with participation from all current investors such as The Blue Venture Fund, Echo Health Ventures, Section 32, Northpond Ventures, Deerfield Management, Casdin Capital, and Merck Global Health Innovation Fund){kind=link}