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August 3, 2021

InterVenn raises $201m to develop liquid biopsy assay 

InterVenn will use the funds to grow the network of partners on its AI-powered glycoproteomics platform.

InterVenn Biosciences has raised $201m in a Series C funding round to develop its liquid biopsy assay and artificial intelligence (AI)-powered glycoproteomic platform.

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The financing round was led by new investors SoftBank Group, Heritage Provider Network, Irving Investors and Highside Capital Management.

InterVenn’s current investors, Amplify Partners, Anzu Partners, Genoa Ventures and True Ventures, also took part in the round.

The company will use the funding proceeds to expedite the development and marketing of its liquid biopsy assay, Dawn, for predicting immune checkpoint inhibitor response.

Dawn is currently being developed, with commercialisation planned for next year.

The company will also grow the network of allies on its AI-driven glycoproteomics platform.

So far, the platform has been used to create 16 clinical use cases in oncology and other indications.

With favourable preliminary results and performance, InterVenn plans to fund the development of glycoproteomics-based liquid biopsy solutions in the oncology spectrum of care and non-oncology uses.

Through this funding, the company will be able to expand investment in a collaboration ecosystem to boost the development and marketing of novel clinical solutions.

Additionally, it can expand insights into new biomarkers and treatments.

InterVenn Biosciences co-founder and CEO Aldo Carrascoso said: “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 leverages AI and mass spectrometry-driven glycoproteomics biomarker interrogation platforms for advanced precision medicine.

It focuses on developing solutions for ovarian, pancreatic, liver, prostate and kidney cancer along with solutions for treatment and monitoring, immune profiling, patient stratification, and disease progression analysing solutions.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
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