What is Octave Bioscience?
Octave Bioscience, Inc. specializes in the development of innovative diagnostic tests, most notably the MSDA Test. This pioneering multi-analyte blood test is designed to monitor multiple sclerosis (MS) disease activity, offering detailed, personalized reporting. The company's mission is to empower both patients and healthcare providers with enhanced clinical insights for neurodegenerative diseases, aiming to transform patient care. Their services are accessible nationwide through Quest Diagnostics, targeting healthcare providers and individuals affected by MS.
How much funding has Octave Bioscience raised?
Octave Bioscience has raised a total of $129M across 5 funding rounds:
Angel/Seed
$2.5M
Series A
$14M
Series B
$62M
Debt
$15.5M
Series C
$35M
Angel/Seed (2017): $2.5M, investors not publicly disclosed
Series A (2018): $14M led by BlueCross BlueShield Venture Partners, Echo Health Ventures, and Section 32
Series B (2023): $62M supported by Deerfield Communications Inc, Section 32, Casdin Capital , LLC, Echo Health Ventures LLC, The Blue Venture Fund, and Northpond Ventures LLC
Series C (2025): $35M featuring Byers Capital, The Blue Venture Fund, Valhalla Foundation, Merck Global Health Innovation Fund, Novartis, Northpond Ventures, Intermountain West Joint Venture, Hikma Ventures, Casdin Capital, and S32
Debt (2025): $15.5M backed by Silicon Valley Bank
Key Investors in Octave Bioscience
Section 32
S32 | Venture Beyond is a venture capital firm that focuses on investing in cutting-edge technology. Founded by Bill Maris, the firm is backed by a team with extensive experience in building iconic companies. Their investment strategy targets innovative startups and emerging technologies. S32 aims to support visionary entrepreneurs at the forefront of technological advancement.
BlueCross BlueShield Venture Partners
BlueCross BlueShield Venture Partners manages over $500 million in capital across three funds. The Funds work collaboratively with 29 different BCBS entities to invest in promising, emerging companies of strategic relevance to Blue Cross and Blue Shield Plans. The Blue Cross Blue Shield Association (BCBSA) serves as the focal point for the funds, providing governance and administration. Leadership of the funds comes from BCBSA as well participating Blue Plans. Sandbox Industries is the exclusive provider of investment management services to BlueCross BlueShield Venture Partners. Sandbox Industries is a venture capital firm that works at the intersection between entrepreneurial thinking and large corporate enterprises. Its Collaborative Investment Vehicles drive both investments in and partnerships with startups that address strategic priorities of its Corporate Limited Partners.
Echo Health Ventures
Echo Health Ventures is a strategic venture capital firm focused on investing in and growing innovative healthcare companies. The company partners with organizations that are committed to transforming healthcare delivery through original solutions and sustainable impact. With a mission to drive systemic healthcare transformation, Echo Health Ventures emphasizes long-term partnerships and the acceleration of portfolio companies' growth. They operate nationwide, collaborating with various members of the Echo Innovation Alliance to foster healthcare innovation.
What's next for Octave Bioscience?
The substantial enterprise-level funding, including the recent Series B round, positions Octave Bioscience for significant scaling and further development of its diagnostic technologies. This strategic capital infusion is expected to accelerate the company's market penetration and enhance its research and development capabilities. The company's focus on personalized medicine within the neurodegenerative disease space suggests a trajectory towards becoming a key player in diagnostic innovation, potentially leading to further strategic partnerships or market expansions.
See full Octave Bioscience company page
