Octave Bioscience, a precision care company specializing in neurodegenerative diseases, has successfully closed a $30 million extension to its Series B funding round. The funding was led by several strategic investors, including Novartis (dRx Capital), Hikma Pharmaceuticals’ venture capital arm – Hikma Ventures, and Intermountain Ventures. Existing investors, including The Blue Venture Fund, Echo Health Ventures, Section 32, Northpond Ventures, Deerfield Management, Casdin Capital, and Merck Global Health Innovation Fund, also participated in the funding round.
Octave Bioscience focuses on delivering a new standard of care for multiple sclerosis (MS) and other neurodegenerative diseases. The company’s precision care solution combines blood biomarkers, expanded imaging capabilities, and clinical insights to provide a comprehensive view of the patient’s condition, including disease activity and progression. This personalized approach to patient care enables better treatment decisions and improved outcomes.
The funds raised in this round will be used to further accelerate Octave’s commercialization efforts, allowing them to bring their multimodal precision care solution to more multiple sclerosis patients. The solution has already been commercially launched and is being used in multiple MS Centers of Excellence, academic centers, and independent clinics across the country.
Octave Bioscience is actively engaged in expanding physician partnerships and providing its precision care capabilities to address the challenges and unmet needs in the MS ecosystem. Additionally, the company is committed to building collaborations and partnerships in other neurodegenerative diseases, such as Parkinson’s and Alzheimer’s disease.
The participation of a diverse group of investors, including pharmaceutical companies, health plans, and other stakeholders, highlights the value and support for Octave’s precision care solution in revolutionizing the treatment and management of neurodegenerative diseases.
