InterVenn intends to use the funding to expand its AI-driven glycoproteomics platform and its liquid biopsy assay dubbed Dawn
InterVenn raises $201m in funding round. (Credit: Belova59 from Pixabay.)
InterVenn Biosciences has received $201m in a Series C financing round to advance the development of its glycoproteomic platform and liquid-biopsy assays.
The funding round was led by new investors SoftBank Group, Heritage Provider Network, Irving Investors, Highside Capital Management
Existing investors Amplify Partners, Anzu Partners, Genoa Ventures and True Ventures have also participated in the investment round.
InterVenn leverages a glycoproteomics biomarker interrogation platform powered by AI and mass spectrometry to develop next-gen precision medicine.
It explores new solutions in ovarian, pancreatic, liver, prostate, and kidney cancer, along with treatment and monitoring, immune profiling, patient stratification and disease progression.
The company intends to use the funding proceeds to expand the network of partners on its AI-driven glycoproteomics platform.
Also, it will advance the development and commercialisation of its liquid biopsy assay, dubbed Dawn, intended for immune checkpoint inhibitor response prediction.
The Dawn assay platform is currently in the development stage and is expected to be commercialised from next year.
InterVenn Biosciences co-founder and CEO Aldo Carrascoso said: “We are thrilled to have such strong support from this global investor group to support the next phase of our evolution.
“Our new investors, as well as our existing investors, recognise the transformative potential of our technology and bring strong industry knowledge that will result in a positive partnership for InterVenn.
“With this fundraising, we believe InterVenn is ideally positioned to unlock the glycoproteome as a novel and fundamental layer in biology, which will reveal a myriad of new insights on how to diagnose and treat disease.”
InterVenn claimed that its glycoproteomics platform has been used to develop 16 clinical use cases across oncology and other indications, to date.
Based on encouraging early results and promising performance, the company intends to invest in the development of glycoproteomics-based liquid biopsy solutions.
The new solutions will span across the oncology spectrum of care, including screening through therapy response monitoring, along with non-oncology applications.
Also, InterVenn will invest in expanding its partnership ecosystem to advance the development and commercialisation of new clinical solutions, and biomarkers and therapies.
Cowen served as sole placement agent to InterVenn on the transaction.