Octave Bioscience, a company focused on precision medicine for neurodegenerative conditions, has announced the successful close of a $35.6 million Series C equity financing round. In addition to this funding, the company has secured a $15.5 million non-dilutive term loan from Silicon Valley Bank, now part of First Citizens Bank. These funds will be used to accelerate the commercialization of Octave’s flagship product and expand its research pipeline.
Octave’s main product, the MSDA test, is a first-of-its-kind blood-based diagnostic tool designed to measure disease activity in patients with multiple sclerosis (MS). The test has already gained significant traction, with over 325 physicians prescribing it and more than 19,000 tests delivered. It is also covered by insurance plans representing over 75 million lives, making it more accessible to patients nationwide.
The Series C round attracted both new strategic investors and existing backers, including Byers Capital, Blue Venture Fund, Northpond Ventures, S32, Casdin Capital, Merck Global Health Innovation Fund, Novartis, Valhalla Foundation, Intermountain Ventures, and Hikma Ventures. Their continued support reflects growing confidence in Octave’s approach to personalized care and its potential to reshape how neurological diseases are managed.
Octave’s mission goes beyond MS. The company is actively developing tools for other conditions, such as Parkinson’s disease, working in partnership with organizations like the Michael J. Fox Foundation. Its platform uses multi-analyte blood tests to provide physicians with clear, quantitative insights that can guide treatment decisions and improve patient outcomes.
Founded to bring more precision to neurology, Octave is building a comprehensive care model that combines advanced diagnostics with data-driven insights. By providing objective measures of disease activity, the company enables clinicians to tailor treatments to individual patients, potentially enhancing quality of life and long-term health outcomes.
KEY QUOTES:
“Octave Bioscience’s precision medicine testing platform is driving personalized insights for neurodegenerative diseases and changing how they are managed. The company’s multi-analyte blood-based tests provide quantitative and clinically actionable insights, enabling physicians to make more confident, impactful treatment decisions that can lead to improved patient outcomes.”
Brook Byers, Byers Capital
“This Series C funding empowers us to establish the Octave MSDA Test as the new standard of care in multiple sclerosis. Beyond MS, these resources significantly advance Octave’s mission to become the leading precision neurology platform in the world, ultimately impacting the lives of individuals with neurodegenerative diseases like Parkinson’s and Alzheimer’s.”
Doug Biehn, Chief Executive Officer of Octave
