New blood test for MS receives major commercialization funding
MSDA test measures 18 proteins that reflect MS biological processes
Octave Bioscience has raised $35.6 million in funding to continue marketing its multiple sclerosis (MS) disease activity test and accelerate the development of a similar tool for Parkinson’s disease.
The Multiple Sclerosis Disease Activity (MSDA) test — the first blood test of its kind for MS — has been available in all 50 U.S. states since May. It measures 18 proteins that reflect the underlying biological processes in MS. Using artificial intelligence, the results are combined into a score that helps doctors assess how active the disease is and make more informed treatment decisions.
The series C financing comes amid “strong commercial momentum” for the MSDA test, Octave said in a press release. Since its launch, the test has been adopted by more than 325 prescribers and used in more than 19,000 patients, and coverage for it has been secured for more than 75 million people through insurance networks.
“This Series C funding empowers us to establish the Octave MSDA Test as the new standard of care in multiple sclerosis,“ said Doug Biehn, Octave’s CEO. “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.”
Helping doctors assess disease activity
The new funding round drew support from new and existing investors, including Byers Capital, Blue Venture Fund, Northpond Ventures, S32, Casdin Capital, Merck Global Health Innovation Fund, Novartis, Valhalla Foundation, Intermountain Ventures, and Hikma Ventures. Octave also secured a $15.5 million loan from Silicon Valley Bank, a division of First Citizens Bank.
“Octave Bioscience’s precision medicine testing platform is driving personalized insights for neurodegenerative diseases and changing how they are managed,” said Brook Byers, of Byers Capital. “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.”
MS is a chronic condition that impacts the brain and spinal cord, and leads to a range of symptoms that can differ significantly from one person to another. Managing the disease is often challenging, as care decisions, such as whether to start a new therapy or continue an old one, largely depend on a clinician’s assessment of symptoms and interpretation of MRI scans.
The MSDA test, available in the U.S. since 2022, is designed to complement these tools by providing an objective measure of disease activity. It can be used at any stage of the disease course, even years after a diagnosis.
One study showed MSDA results led to changes in care decisions for about 20% of patients, and more than half of the clinicians agreed or strongly agreed that a single MSDA test result helped guide their decisions.
The findings suggest the test can give doctors clearer information to guide care decisions, which could translate into more personalized treatment and better outcomes for people living with MS.
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