Silicon Valley-Based InterVenn BioSciences Raises RM 39 Million, Establishes Subsidiary in Malaysia to Develop Ovarian Cancer Early Detection Blood Test in Collaboration with TPM and CRM

KUALA LUMPUR, Dec 14 (Bernama) — InterVenn BioSciences, a biotech company innovating cancer diagnostics using Artificial Intelligence (AI) and next-gen mass spectrometry, announced this week an institutional investment of US$9.4 million led by San Francisco-based biotech investor Genoa Ventures, with participation from True Ventures, Amplify Partners, Boost VC, and Prado SV.

Headquartered in Silicon Valley, USA, InterVenn has established subsidiaries in Kuala Lumpur and Manila to foster biotechnology, drive AI adoption, and support Industrial Revolution 4.0 in Southeast Asia. The company is conducting analytical and clinical validation of its ovarian cancer diagnostic blood test. A global, multi-site clinical study to validate this test will commence in early 2019. Clinical Research Malaysia (CRM), an agency under the Malaysia Ministry of Health, plays a vital role in supporting InterVenn’s clinical operations in Malaysia and facilitated fifteen clinical sites across nine states in Malaysia for this clinical study.

InterVenn’s established strategic partnership with Technology Park Malaysia (TPM) in 2017, an agency under the Malaysia Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC), to build an internationally-certified clinical laboratory, attract and upskill a critical scientific talent pool in Malaysia.

Once clinical validation and regulatory processes are completed, the ovarian cancer blood test will be offered as a laboratory diagnostic test. “Today, early diagnosis of ovarian cancer is extremely poor, despite its role in significantly improving survival rates,” said Aldo Carrascoso, CEO of InterVenn BioSciences. “We’ve established a talented team of experts in AI, computational biology, mass spectrometry, glycoproteomics, and product development who are dedicated to equipping physicians with a reliable tool to change the narrative around ovarian cancer. ”

“InterVenn’s decision to conduct their clinical study in Malaysia is testament to the country’s capabilities in terms of infrastructure, good clinical practice, certified investigators and a large patient pool,” said Dr. Akhmal Yusof, CEO of Clinical Research Malaysia. “InterVenn can capitalize on the services that CRM provides to ensure smooth conduct and delivery of their trials. I’m proud that Malaysia will be the first country in Asia that will start this clinical study next year and hopefully Malaysia can contribute to InterVenn’s exponential growth further in the near future.”

Meanwhile, TPM Acting President/CEO, Encik Sharbani Harun said that the collaborative efforts between InterVenn and TPM marked an important milestone for Malaysia to become a central hub for the Asia-Pacific region, towards the advancement of research and development in the field of biomedical and life sciences. “We are certainly proud to be given the opportunity to work closely with InterVenn whereby they will be the utilizing our world-class laboratory equipment and facilities to further their cancer diagnostic innovation,” added Sharbani.

InterVenn aims to lead the next wave of precision medicine by enabling innovation in diagnostics and therapeutics through global collaborations to improve human health. The partnership with TPM and CRM serve as a launchpad for this mission.