Octave Bioscience, a Menlo Park, CA-based developer of a fully integrated care management solution delivering insights for patients with neurodegenerative diseases, completed its $14m Series A funding.
The round was led by BCBS Venture Partners with participation from Echo Health Ventures (a strategic collaboration of Cambia Health Solutions and Mosaic Health Solutions), Section 32 and new as well as existing private investors.
This financing will allow the company, which had previously raised $2.5m in seed funding, to complete development of its proprietary platform and begin to evaluate its impact in its initial disease state, multiple sclerosis.
Led by William A. Hagstrom, Founder and CEO, Octave Bioscience was founded to deliver an end-to-end care management platform for multiple sclerosis and a full range of neurodegenerative diseases. Its first product, currently in development and anticipated for launch in 2019, will employ biomarker solutions, patient tracking tools and MRI optimization to provide neurologists and MS patients with objective metrics to facilitate informed care and shared decision making for better patient outcomes.
The company also announced today the appointments of two new members to its Board of Directors:
– George Scangos, PhD, CEO of Vir Biotechnology and former CEO of Biogen, and
– Michael Pellini, MD, managing partner at Section 32 and current Chairman, former CEO of Foundation Medicine.