Octave Bioscience Reels in $35.6 Million Series C

<p><strong>MENLO PARK<&sol;strong> &&num;8212&semi; Octave Bioscience&comma; Inc&period;&comma; a commercial stage precision care company that is pioneering a new standard for managing multiple sclerosis &lpar;MS&rpar; and other neurodegenerative diseases&comma; announces the close of its &dollar;35&period;6 million Series C equity financing and that it has entered into a &dollar;15&period;5 million non-dilutive term loan agreement with Silicon Valley Bank &lpar;SVB&rpar; a Division of First Citizens Bank&period;<&sol;p>&NewLine;<p>The financing comes amidst strong commercial momentum for its flagship product&comma; the Octave MSDA test&comma; with the company achieving broad physician adoption and payer reimbursement with over 325 prescribers&comma; more than 19&comma;000 patient tests delivered to date&comma; and in-network reimbursement with over 75 million contracted lives at favorable rates&period; Proceeds of the financing will support continued commercialization of Octave’s MSDA test&comma; a first-of-its-kind test for MS disease activity&comma; as well as advancement of the company’s pipeline in Parkinson’s disease&period;<&sol;p>&NewLine;<p>The equity round included participation from new strategic investors as well as participation by existing investors including Byers Capital&comma; Blue Venture Fund&comma; Northpond Ventures&comma; S32&comma; Casdin Capital&comma; Merck Global Health Innovation Fund&comma; Novartis&comma; Valhalla Foundation&comma; Intermountain Ventures and Hikma Ventures&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Octave Bioscience’s precision medicine testing platform is driving personalized insights for neurodegenerative diseases and changing how they are managed&period; The company’s multi-analyte blood-based tests provide quantitative and clinically actionable insights&comma; enabling physicians to make more confident&comma; impactful treatment decisions that can lead to improved patient outcomes&comma;” said Brook Byers&comma; Byers Capital&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;This Series C funding empowers us to establish the Octave MSDA Test as the new standard of care in multiple sclerosis&comma;&OpenCurlyDoubleQuote; said Doug Biehn&comma; Chief Executive Officer of Octave&period; &OpenCurlyDoubleQuote;Beyond MS&comma; these resources significantly advance Octave’s mission to become the leading precision neurology platform in the world&comma; ultimately impacting the lives of individuals with neurodegenerative diseases like Parkinson&&num;8217&semi;s and Alzheimer&&num;8217&semi;s&period;”<&sol;p>&NewLine;