AOA Press Release
AOA Dx Closes $7 million Funding Round to Bring the First Accurate Early Detection Test for Ovarian Cancer to Market
September 13, 2022
AOA Dx Inc is proud to announce that they have closed both of their seed rounds totaling 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 AOA’s ovarian cancer detection technology, AKRIVIS GD™ and expand their growing team. Currently, there are no reliable ovarian cancer biomarkers that detect early stage disease.
In a landmark reviewed study, AOA's technology AKRIVIS GD™ showed over 90% accuracy for detection of ovarian cancer, including early stage disease when 5 year survival rates are greater than 90%.
AKRIVIS GD™, 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 a new and unexploited potential for diagnosis, creating a new field of omics as the next frontier in diagnostics. Tumor glycolipids exploited for diagnosis additionally offer unique molecular targets for precision cancer immuno‑therapy. Preclinical studies utilizing these targets have shown promising results.
“It’s been an incredible journey to take AKRIVIS GD™ from academic research to the product development phase. The results from our study are extremely promising and knowing that we are on the path to create better outcomes for ovarian cancer patients is a huge milestone for the company.” said Oriana Papin-Zoghbi, CEO and Co-founder of AOA Dx.
Data shows nearly 225,000 women globally are diagnosed with ovarian cancer annually, and up to 65% of which will not survive. Ovarian cancer’s high fatality rate is largely attributed to late detection. The average time to diagnose ovarian cancer is 9 months even though 94% of women experience symptoms early on.
Early detection of ovarian cancer has the possibility to reduce fatalities by half. There are currently no available tools or methods for early detection of ovarian cancer, AKRIVIS GD™ will be the first available tool to enable early detection.
About AOA Dx Inc.
AOA Dx Inc (AOA Inc) is a US company, with teams based in Boston, New York and London developing cancer diagnostics in the field of women’s health. AOA Dx Inc, a female led company, is committed to bringing the first accurate early stage liquid biopsy ovarian cancer diagnostic test to market that will improve clinical practice, help reduce patient mortality and deliver cost savings to payers. More information can be found at www.aoadx.com.