14 December 2018 - - US-based life sciences and technology company InterVenn BioSciences has received an institutional investment of USD 9.4m led by seasoned biotech investor Genoa Ventures, with participation from True Ventures, Amplify Partners, Boost VC, and Prado SV, the company said.

The financing will be used to develop the company's first product, a blood-based ovarian cancer diagnostic.

Jenny Rooke, Ph.D., 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.

Glycoproteomics, an emerging field combining proteomics and glycomics, can help with better biomarker and target discovery, but produces an enormous amount of data in minutes that historically takes months to fully analyze and is often difficult to reproduce.

By leveraging mass spectrometry, hi-res characterization of post-translational modifications, and artificial intelligence, InterVenn streamlines and expedites this process and ensures that any variability in the workflow, from the sample collection, processing, and all the way to instrument ingestion, is minimized and the results are reproducible.

The company's first product is a blood-based ovarian cancer diagnostic that is currently undergoing analytical and clinical validation.

Once the validation and regulatory processes are completed, the company will begin offering a laboratory diagnostic test.

InterVenn BioSciences aims to find solutions for the most challenging health problems. InterVenn's approach combines the analysis of glycoproteomics using mass spectrometry with data science and artificial intelligence to quickly identify potentially actionable and clinically relevant information for conditions including cancers, autoimmunity, fibrosis, and neurodegeneration.

The company is headquartered in Redwood City, California.

Genoa Ventures invests in early-stage life sciences companies innovating at the intersection of biology, technology, and data science.

From next-gen 'omics platforms to CRISPR-Cas genome editing, our portfolio companies are transforming biomedical research, diagnostics, agriculture, chemicals, and other industries beyond traditional biotech therapeutics.

Genoa Ventures combines an appetite for technology-driven opportunities in life sciences with the domain expertise and operational experience necessary to select and nurture the best bio-based companies early, before most other investors.

Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early-stage technology startups.

Amplify Partners invests in early-stage companies pioneering novel applications in machine intelligence and computer science.