InterVenn Biosciences announced it has raised US$34 million in Series B fundraising — translating to more than P2 billion — for the biotech company started by Filipinos Aldo Carrascoso and Dr. Carlito Lebrilla Ph.D., who made their marks in technology and medicine in the United States.
The latest round of the fundraiser was led by Anzu Partners with full participation of Genoa Ventures, Amplify Partners, and True Ventures with Xeraya Capital and Ojjeh Family joining the syndicate as well.
The funds will be used to commercialize Intervenn’s High-Throughput-Glycoproteomic powered diagnostic for ovarian cancer, to service increasing partnership platform demand, and to accelerate development efforts for the immuno-oncology treatment response and colorectal cancer indications.
“We are looking to close out the calendar year with more milestones under our belt and we believe the P2 billion we have raised will help us in laying the groundwork for our cancer research program,” said Carrascoso of the company’s new milestone.
“Our research and clinical partners continue to be astounded at the type of data we have been able to generate and are bullish about the work we do together, even with all the challenges that this year has presented to everyone globally, we are intent in creating an environment and need for the immediate use of glycobiology in the clinic and research laboratories,” he added.
The company has also commissioned a new office and laboratory space in South San Francisco to aid in the continuous generation of data demonstrating best-in-class performance across disease indications, coupled with the launching of new artificial intelligence tools that propel their development efforts.
Through this and the repeated validation of the technology by top organizations puts the InterVenn product closer to the clinic.
Aside from InterVenn’s founders, Filipinos are also at the helm of the software development and cloud infrastructure efforts, as the firm has a dedicated team based in Ortigas Center, Pasig.
Since they founded InterVenn, Carrascoso and Lebrilla have one goal in mind: utilize next-generation glycomics, instrumentation, and deep machine learning to be able to diagnose cancer at its earliest stage, eventually leading to further research for a cure for the “Big C.”
Meanwhile, InterVenn’s initial study, V.O.C.A.L.™ (InterVenn Ovarian CAncer Liquid biopsy), a clinical decision-making tool for ovarian cancer aimed at distinguishing malignant pelvic tumors from benign ones, has recently opened its own Philippine branch and is currently looking for patients to join its international clinical trial.
Clinical trials in the country are being conducted in the Philippine General Hospital, National Kidney and Transplant Institute, and The Medical City.
This falls in line with the company’s current thrust of an early cancer detection program that they are establishing in the Philippines care of the V.O.C.A.L.™ Philippines branch.
Data collected has presented that over 90% of ovarian cancer patients who have had the disease detected at an early stage survive, compared to those who are not able to have theirs detected. Ovarian cancer is commonly detected when it is in its later stages, making the battle tougher for the patient.
For interested patients who want to enroll in InterVenn’s V.O.C.A.L.™ program in the Philippines, visit https://vocal.ph and carefully fill out the necessary forms and information required.