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InterVenn BioSciences Raises $9.4M in Funding

NEW YORK (GenomeWeb) – Diagnostics company InterVenn BioSciences said today it has raised $9.4 million in a funding round led by Genoa Ventures.

The Redwood City, California-based firm will use the funds to develop its lead product, a mass spectrometry-based blood test for ovarian cancer. The company said it is currently doing analytical and clinical validation for the test, which it ultimately plans to offer as a laboratory-developed test.

InterVenn is focused on developing glycoproteomic-based assays for the diagnosis of various conditions. Glycoproteomics analyzes both protein expression and the glycan post-translational modifications on proteins, which are often altered in different disease states. The majority of protein cancer markers currently cleared by the US Food and Drug Administration are glycoproteins.

In addition to Genoa Ventures, investors True Ventures, Amplify Partners, Boost VC, and Prado SV also participated in the round. Jenny Rooke, founder and managing director at Genoa Ventures, and Adam D'Augelli, partner at True Ventures, will join InterVenn's board of directors. Sunil Dhaliwal, general partner at Amplify Partners, will join as a board observer.