InterVenn BioSciencesStartup

Biotech firm InterVenn Biosciences raises P10 billion for cancer research

By securing P10 Billion Series C financing SoftBank Group, Heritage Provider Network, Irving Investors, and Highside Capital Management, Intervenn Biosciences will continue to develop and commercialize a blood-based test for cancer research.

Intervenn Biosciences, with headquarters in San Francisco, California, has been developing Dawn, which aims to match cancer patients to immuno-oncology therapy “with the best possible chance of response.” According to the company, the test will be able to measure never before characterized biological signals from glycoproteins from a simple blood draw.

“Dawn is in the early validation process for use in patients with pancreatic and lung cancers as well as melanoma. Its application on other tumor types is continuously being studied,” the biotech firm said.

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Intervenn Biosciences is founded by Aldo Carrascoso, who also sits as CEO. He graduated from the Ateneo De Manila University and Babson College. Alongside Carrascoso is fellow Filipino and co-founder Dr. Carlito Lebrilla, a professor at the School of Medicine at the University of California, Davis, and a world expert in Glycoproteomics.

“We are inspired by the consistent support from global investor groups,” Carrascoso said. “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.”

Glycoproteomics biomarker interrogation

InterVenn uses a proprietary glycoproteomics biomarker interrogation platform that reveals a wealth of information about a person’s unique molecular makeup for next-gen precision medicine. With artificial intelligence (AI) and mass spectrometry, InterVenn’s platform has been utilized to develop 16 clinical use cases across oncology and other indications.

Propelled by its purpose that nobody should ever be blindsided by disease, the company is working in a radically different manner to find new solutions in ovarian, colorectal, pancreatic, liver, prostate, and kidney cancer; comprised of treatment and monitoring, immune profiling, patient stratification, and disease progression.

“One hundred percent of our software is done in the Philippines,” Carrascoso said. “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.”

GLORI

After establishing the company in 2018, InterVenn started to work on GLORI which differentiates between benign and malignant pelvic tumors in women with 86% accuracy, higher than any other currently available blood test for ovarian cancer. Last June 10, InterVenn announced the validation of GLORI as the world’s first glycoproteomic laboratory-developed test (LDT) that will aid in the fight against ovarian cancer. It has been validated using both retrospective patient samples and samples collected prospectively in InterVenn’s ongoing VOCAL (InterVenn Test For Ovarian Cancer Liquid Biopsy) clinical trial.

This was made possible by the over P2 Billion venture investment received by InterVenn from Genoa Ventures, True Ventures, Amplify Partners, Boost VC, Prado SV, the Ojjeh Family, and Anzu Partners.