AOA Dx Closes $7 Million Funding Round To Bring The First Accurate Early Detection Test For Ovarian Cancer To Market
Summary
AOA Dx Inc announced today that they have closed a $7 million funding round led by Avestria Ventures, AlleyCorp, The Helm, RH Capital, Olive Tree Capital, Tencent, and other notable investors.The funding will be used to further develop the next generation of AOAs ovarian cancer detection technology, AKRIVIS GD, and expand their growing team. Currently, there are no reliable ovarian cancer biomarkers that detect early-stage disease.Its been an incredible journey to take AKRIVIS GD from academic research to the product development phase. There are currently no available tools or methods for the early detection of ovarian cancer, so AKRIVIS GD will be the first available tool to enable early detection.In a landmarked reviewed study in the Journal of Precision Medicine, AOAs technology showed over 90% accuracy for detection of ovarian cancer, including early-stage disease when 5-year survival rates are greater than 90%. AKRIVIS GD, which is a liquid biopsy assay for early detection of ovarian cancer, has shown high sensitivity and specificity, addressing an urgent market need.Tumor Marker Gangliosides offer the new and unexploited potential for diagnosis, creating a new field of omics as the next frontier in diagnostics. When detected early, almost 95% of ovarian cancer patients live more than five years after their diagnosis but only around 15% of ovarian cancers are found early.Upon being admitted to Y Combinators program in 2021, AOAs team received an overwhelmingly positive response from VCs and angels supportive of their mission to give women a fighting chance at survival against this deadly diseaseWith teams based in Boston, New York, and London developing cancer diagnostics in the field of womens health, this new funding will help AOAs team of entrepreneurs and experts to further work on the innovative solution that has the real potential to improve clinical practice, help reduce patient mortality and deliver cost savings to payers.This means that when we catch ovarian cancer early, we give women a fighting chance at survival.