# Octave Bioscience

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/octave-bioscience

- Industry: Biotechnology
- Headquarters: Menlo Park, US
- Website: www.octavebio.com
- Total disclosed funding: $110M
- Latest round: Series C (Mar 7, 2025)
- Investors on record: 12

## About

Based in the US, Octave Bioscience Inc is a diagnostic company focused on delivering solutions for the management of Multiple Sclerosis and other neurodegenerative diseases through innovative testing methods.Founded in 2014 in Menlo Park, US, Octave Bioscience Inc develops diagnostic solutions for neurodegenerative diseases. The company, led by CEO Doug Biehn, has completed 7 deals, with its most recent funding round on November 15, 2023, raising USD 10.00 mn in Grant funding from the Michael J. Fox Foundation. The total amount raised to date is USD 7.00 mn.Octave Bioscience, Inc. specializes in providing innovative diagnostic solutions aimed at enhancing the management of Multiple Sclerosis (MS) and other neurodegenerative diseases. Central to their offerings is the MSDA Test, a simple and accessible blood test that generates clinically relevant insights regarding MS disease activity. This test is designed to assist healthcare professionals in making informed clinical decisions, such as initiating, modifying, or halting disease-modifying therapies (DMT) and determining the necessity for further laboratory or MRI assessments. The company serves a diverse client base, primarily healthcare providers and clinicians involved in the management of MS, ensuring that they have access to valuable data that can inform treatment pathways. Octave's products are marketed and utilized in various geographical regions, with a focus on North America and Europe, where there is a significant demand for advanced diagnostic tools in neurology.Octave Bioscience generates revenue through a model that emphasizes direct engagement with healthcare providers and institutions. The company’s flagship offering, the MSDA Test, is structured as a fee-for-service transaction, where clinicians order the test for their patients, and Octave charges a set fee per test conducted. This transactional model facilitates B2B relationships, allowing healthcare providers to incorporate the test into their diagnostic processes. The company may also pursue partnerships with healthcare systems and academic institutions to further expand its reach and enhance its service offerings. Revenue is derived from the direct submission of test orders by clinicians, reflecting the test's significance in clinical decision-making and the ongoing need for reliable diagnostic tools in the evolving field of neurology. In September 2025, Octave Bioscience Inc raised USD 35 million in series C funding from new investors Valhalla Foundation and Byers Capital, with participation from returning investors BlueCross BlueShield Venture Partners, Section 32, Merck Global Health Innovation Fund, Casdin Capital, Hikma Ventures, Intermountain Ventures, Northpond Ventures, and Novartis Venture Fund. I also raised USD 15.5 million in venture debt funding from new investor Silicon Valley Bank.

## Funding rounds

- Series C, Mar 7, 2025, $32M — Novartis Venture Fund, Merck Global Health Innovation Fund, BlueCross BlueShield Venture Partners, Casdin Capital, Hikma Ventures, Section 32, Valhalla Charitable Foundation, Northpond Ventures, Intermountain Ventures, Byers Capital
- Series B, Jan 4, 2023, $33M — Novartis Venture Fund, Merck Global Health Innovation Fund, BlueCross BlueShield Venture Partners, Casdin Capital, Deerfield Management, Hikma Ventures, Echo Health Ventures, Section 32, Northpond Ventures, Intermountain Ventures
- Series B, Oct 29, 2020, $32M — BlueCross BlueShield Venture Partners, Casdin Capital, Deerfield Management, Echo Health Ventures, Section 32, Northpond Ventures
- Series A, Jul 12, 2018, $14M — BlueCross BlueShield Venture Partners, Echo Health Ventures, Section 32

## Investors

- BlueCross BlueShield Venture Partners (https://capitalatlas.ai/funds/bluecross-blueshield-venture-partners) — Series A, Series B, Series C
- Echo Health Ventures (https://capitalatlas.ai/funds/echo-health-ventures) — Series A, Series B
- Section 32 (https://capitalatlas.ai/funds/section-32) — Series A, Series B, Series C
- Casdin Capital (https://capitalatlas.ai/funds/casdin-capital) — Series B, Series C
- Deerfield Management (https://capitalatlas.ai/funds/deerfield-management) — Series B
- Northpond Ventures (https://capitalatlas.ai/funds/northpond-ventures) — Series B, Series C
- Novartis Venture Fund (https://capitalatlas.ai/funds/novartis-venture-fund) — Series B, Series C
- Merck Global Health Innovation Fund (https://capitalatlas.ai/funds/merck-global-health-innovation-fund) — Series B, Series C
- Hikma Ventures (https://capitalatlas.ai/funds/hikma-ventures) — Series B, Series C
- Intermountain Ventures (https://capitalatlas.ai/funds/intermountain-ventures) — Series B, Series C
- Valhalla Charitable Foundation — Series C
- Byers Capital (https://capitalatlas.ai/funds/byers-capital) — Series C