Biotech firm InterVenn Biosciences has successfully raised Php 10 billion in funding for its pioneer cancer research.
The company collected its Series C financing fund from SoftBank Group, Heritage Provider Network, Irving Investors, and Highside Capital Management.
The money will be poured into the development and commercialization of its blood-based cancer test called Dawn, which will help physicians appropriately match cancer patients to immuno-oncology therapy with the most effective response.
What sets it apart is that it’s able to measure never before characterized biological signals from glycoproteins from a simple blood test. It’s currently in the early validation phase, specifically for patients with pancreatic and lung cancers as well as melanoma.
InterVenn Biosciences is led by its Filipino founders Ateneo De Manila University and Babson College graduate Aldo Carrascoso, who serves as chief executive officer, and Dr. Carlito Lebrilla, Ph.D., a distinguished Professor at the School of Medicine in the University of California.
The biotech company’s headquarters is located in South San Francisco’s Bay Area. However, their software operations are done in the Philippines.
“Our engineering team in our Pasig City office takes care of the cloud infrastructure, front end, back end, and even security. Information security, information event management. Events like infiltration, penetration testing. We have a full staff that does dev ops, server systems administration,” Carrascoso said.
In June of this year, InterVenn’s GLORI received validation and became the world’s first glycoproteomic laboratory-developed test for ovarian cancer.
According to Carrascoso, the innovations their company achieved will not have been possible without the support of their investors.
“We are inspired by the consistent support from global investor groups, it is a clear recognition of the transformative potential of our technology. Their investment allows us to maintain our position 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,” he shared.
InterVenn is currently developing early-detection blood tests for other afflictions such as adenoma, colorectal cancer, and nasopharyngeal carcinoma.
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Image credit: InterVenn Biosciences’ Official Website