Autoimmune disease happens when the body’s natural defense system can’t tell the difference between own cells and foreign cells, causing the body to attack normal cells mistakenly. One of the most common autoimmune diseases is multiple sclerosis (in short MS), a potentially disabling disease of the central nervous system. In MS, the immune system attacks the protective sheath that covers nerve fibers and causes communication problems between the brain and the rest of the body, which can cause permanent damage or deterioration of the nerves. MS affects an estimated 2.8 million people worldwide, with women four times more likely than men to develop the disease.
Symptoms can differ from person to person, depending on the amount of nerve damage and which nerves are affected. Some people with severe MS may lose the ability to walk independently, while others may experience long remission periods without new symptoms. There is no cure for multiple sclerosis today, but treatments can accelerate recovery from attacks, modify the course of the disease, and manage symptoms.
In a stride towards the management of neurodegenerative diseases like multiple sclerosis, Octave Bioscience, a precision care company, has announced the successful closing of an extension to its Series B funding round, securing an additional $30M. This investment will play a crucial role in accelerating the commercialization efforts of Octave’s multimodal precision care solution, ensuring it reaches a wider patient base and potentially expanding into other neurological disorders like Parkinson’s and Alzheimer’s disease.
At the core of Octave’s precision care approach is the integration of blood biomarkers, advanced imaging capabilities, and clinical insights, which together provide healthcare providers with a comprehensive view of each patient’s disease activity and progression. This multifaceted solution enables personalized treatment decisions, leading to improved patient outcomes. By offering objective and accurate measurements of disease activity, severity, and progression, Octave’s platform addresses the substantial unmet clinical needs in the management of neurodegenerative diseases.
Octave’s precision care solution has far-reaching effects across the entire healthcare ecosystem, benefiting physicians, payers, pharmaceutical companies, and, most importantly, patients. The availability of such objective insights empowers healthcare providers to tailor treatment plans based on each patient’s unique requirements, leading to more effective disease management and better quality of life for individuals living with these challenging conditions.
Having launched its Precision Care Solution commercially in late 2022, it is currently in use in several prestigious MS Centers of Excellence, academic institutions, and high-volume independent clinics throughout the United States.
The recent funding round witnessed participation from a range of new strategic investors, signifying the breadth of interest in Octave’s precision care solution. Among the notable names are Novartis (through dRx Capital), Hikma Pharmaceuticals’ venture capital arm, Hikma Ventures, and Intermountain Ventures.
William Hagstrom, Octave’s Founder and CEO shares: “With our multimodal precision care solution, we are providing tools, insights, and a platform that enable a personalized approach to patient care, better treatment decisions and improved outcomes. We have made significant progress in deploying our solution for multiple sclerosis patients. We appreciate our forward-thinking investors that recognize and value our strategy and approach, and support this important mission.”