Octave Bioscience Secures $35.6 Million Series C Financing and $15.5 Million Loan to Accelerate Growth and Advance Precision Care in Neurology
Octave Bioscience, Inc., a commercial-stage precision care company dedicated to transforming the management of neurodegenerative diseases, has announced a significant financial milestone. The company successfully closed a $35.6 million Series C equity financing round while also securing a $15.5 million non-dilutive term loan agreement with Silicon Valley Bank (SVB), a division of First Citizens Bank. Together, this funding package positions Octave to accelerate commercialization of its flagship diagnostic test for multiple sclerosis (MS) and to expand its pipeline into other neurological conditions, including Parkinson’s disease.
This announcement comes at a time when Octave is experiencing what it describes as “strong commercial momentum” for its lead product, the Octave MSDA Test. The test, designed to provide deep insights into disease activity for MS patients, has already seen notable adoption among physicians and broad recognition among payers. To date, more than 325 prescribers have utilized the test, with over 19,000 patient samples processed. Additionally, Octave has achieved in-network reimbursement agreements covering more than 75 million lives, with reimbursement at favorable rates.
Transforming the Standard of Care in Multiple Sclerosis
Multiple sclerosis is a complex and unpredictable autoimmune condition that affects the central nervous system. With more than 2.8 million people worldwide living with MS, the disease presents clinicians with the challenge of managing symptoms that vary significantly from patient to patient. Traditional monitoring methods, such as MRI scans and clinical evaluations, while valuable, often provide incomplete pictures of disease activity and progression.
Octave’s solution, the MSDA Test (Multiple Sclerosis Disease Activity Test), is a first-of-its-kind blood-based biomarker test that delivers quantitative data about disease activity. By analyzing a panel of multiple analytes, the test provides actionable insights to physicians, helping them assess inflammation, neurodegeneration, and disease pathways more effectively than traditional methods.
The result is a tool that not only supports better monitoring but also enables physicians to tailor treatment decisions more precisely. With more personalized insights, clinicians can adjust therapies earlier, prevent unnecessary disease progression, and improve long-term outcomes for patients.
A Vote of Confidence from the Investment Community
The successful Series C equity financing round underscores the confidence investors place in Octave’s platform and its potential to reshape precision neurology. The round attracted new strategic investors, while also receiving continued support from an impressive roster of existing backers. Returning investors included Byers Capital, Blue Venture Fund, Northpond Ventures, S32, Casdin Capital, Merck Global Health Innovation Fund, Novartis, Valhalla Foundation, Intermountain Ventures, and Hikma Ventures.
The presence of both financial and strategic investors demonstrates Octave’s dual appeal: as a promising financial growth opportunity and as a scientifically validated platform capable of changing how neurodegenerative diseases are managed.
Brook Byers, Founding Partner at Byers Capital, emphasized the impact of work, stating:
“Octave Bioscience’s precision medicine testing platform is driving personalized insights for neurodegenerative diseases and changing how they are managed. The company’s multi-analyte blood-based tests provide quantitative and clinically actionable insights, enabling physicians to make more confident, impactful treatment decisions that can lead to improved patient outcomes.”
CEO Perspective: Building the World’s Leading Precision Neurology Platform
Octave’s Chief Executive Officer, Doug Biehn, highlighted the significance of the new funding in advancing both the company’s immediate and long-term goals.
“This Series C funding empowers us to establish the Octave MSDA Test as the new standard of care in multiple sclerosis,” Biehn said. “Beyond MS, these resources significantly advance Octave’s mission to become the leading precision neurology platform in the world, ultimately impacting the lives of individuals with neurodegenerative diseases like Parkinson’s and Alzheimer’s.”
The emphasis on becoming a platform company—not just a single-product entity—reflects Octave’s broader vision. While MS remains the current focus, the underlying biomarker-driven technology can be extended to other neurological diseases where unmet need is high. Parkinson’s disease, for example, lacks reliable tools for tracking disease progression, making it a logical next frontier for Octave.
Expanding into Parkinson’s Disease with Support from Key Partners
Octave’s ambitions are not limited to MS. The company is actively advancing its pipeline in Parkinson’s disease, one of the most prevalent neurodegenerative conditions, affecting more than 10 million people globally.
This effort is being pursued in partnership with the Michael J. Fox Foundation, a leading nonprofit organization that has long championed innovation in Parkinson’s research. By applying its biomarker-driven approach to Parkinson’s, Octave aims to fill critical gaps in disease monitoring and therapeutic decision-making.
Given that Parkinson’s patients experience a wide range of symptoms and progression rates, a reliable, quantitative testing platform could have transformative implications—mirroring the impact Octave seeks to deliver in MS.
The Strategic Role of Silicon Valley Bank
Alongside the equity financing, Octave has entered into a $15.5 million non-dilutive term loan agreement with Silicon Valley Bank (SVB), a division of First Citizens Bank. This debt facility provides the company with additional financial flexibility without requiring equity dilution, enabling Octave to pursue its commercial and research priorities more aggressively.
SVB has long been recognized as a key financial partner to life sciences and technology companies. Its support further validates Octave’s strategy and enhances the company’s ability to scale operations, strengthen infrastructure, and explore new disease areas.
Precision Care in Neurodegenerative Diseases: A Growing Market
The neurodegenerative disease space is both challenging and full of opportunity. Conditions such as MS, Parkinson’s, and Alzheimer’s impose significant personal, social, and economic burdens worldwide. Despite advances in therapies, there remains a critical gap in tools that help measure disease activity and progression with the precision needed for optimal care.
Octave is positioning itself at the intersection of this need by developing biomarker-driven testing solutions. These solutions aim to:
- Deliver objective data rather than subjective assessments.
- Enable earlier intervention and personalized treatment adjustments.
- Support payer systems with evidence-based approaches that improve cost-effectiveness.
- Advance clinical research by providing more reliable measures of treatment impact.
If widely adopted, such solutions could fundamentally change how neurodegenerative diseases are managed at both the individual and population levels.
Scaling Commercial Operations and Pipeline Development
With the infusion of capital from the Series C round and the SVB loan, Octave plans to pursue several key priorities:
- Commercial Expansion of the MSDA Test – Building on current adoption, Octave will work to integrate the test more deeply into clinical practice, expanding prescriber networks and payer coverage.
- Pipeline Development in Parkinson’s Disease – Leveraging its expertise and partnerships, Octave will accelerate efforts to deliver a biomarker test that meets the urgent needs of Parkinson’s patients and clinicians.
- Platform Growth Toward Alzheimer’s and Beyond – While still in earlier stages, Octave envisions adapting its biomarker technology to other neurodegenerative conditions such as Alzheimer’s disease, an area of intense research and urgent unmet need.
- Strengthening Clinical and Real-World Evidence – By continuing to publish data and collaborate with leading medical centers, Octave aims to reinforce the scientific and clinical validation of its testing platform.
About Octave Bioscience
Founded with the mission to transform precision care in neurology, Octave Bioscience, Inc. is a commercial-stage company pioneering biomarker-driven solutions for neurodegenerative diseases. Its initial focus is on multiple sclerosis and Parkinson’s disease, with research partnerships including the Michael J. Fox Foundation.
Through its comprehensive testing solutions, Octave delivers objective and actionable insights that improve disease monitoring, inform treatment decisions, and ultimately enhance patient outcomes. The company’s long-term vision is to become the leading precision neurology platform worldwide, addressing a broad range of neurodegenerative conditions.
For more information, visit www.octavebio.com.
