AOA Press Release
AOA Dx Inc Gets Y Combinator’s Backing and Raises $2.5 Million Seed Round to Develop First Non-invasive Ovarian Cancer Liquid Biopsy Diagnostic Test
June 28, 2021
AOA Dx Inc is proud to announce that they have been accepted to Y Combinator’s 2021 summer cohort and have closed a $2.5 million seed round to develop AKRIVIS GD , a liquid biopsy test that is set to revolutionize the future of ovarian cancer diagnostics. AOA Dx has been working in close collaboration with world renowned cancer researcher Professor H. Uri Saragovi, Senior Investigator with the Lady Davis Institute at the Jewish General Hospital and Professor at McGill University.
“We are incredibly excited to continue our journey towards improving the future of healthcare for women. Currently, 80% of ovarian cancer patients are diagnosed at stage III or IV, resulting in a very low 5 year survival rate.” said Oriana Papin-Zoghbi, CEO and Co-Founder. “AOA’s technology is set to transform ovarian cancer diagnostics by detecting the disease earlier. We are thrilled to be amongst the very small group of Y Combinator backed companies and work with some of the most talented individuals and investors in the startup world.”
Founded in 2020 by Oriana Papin-Zoghbi, Anna Jeter and Alex Fisher, AOA Dx is on a mission to improve the early detection of cancer through development of an innovative blood-based platform. Their proof-of-concept study demonstrates high accuracy across all cancer stages and epithelial ovarian cancer subtypes. The current standard of care for ovarian cancer diagnosis is CA 125 which came to market in 1987 with no improvement in over 35 years. AOA Dx’s technology detects 53% more patients with early stage disease compared to the current standard of care. AKRIVIS GD is currently in the development phase and this round of funding will accelerate further retrospective clinical trials and assay development.
The team reported that this round received an overwhelming positive response from VCs and angels supportive of their mission to give women a fighting chance at survival against this deadly disease. “It’s been an honor to work alongside such a passionate team and a set of diverse investors who understand the magnitude of the problem associated with the current way we diagnose ovarian cancer,” said Papin-Zoghbi. “Having so many women investors believe in our technology is truly motivating.” The round was led by Joyance Partners with Avestria Ventures, AlleyCorp, Launchpad Venture Group, TBD Angels, Kyto Technology and Life Science, Pioneer Fund, SideCar Angels and Beacon Angels also participating in this round.
"We often talk about seeking out the best entrepreneurs working on deeply scientific solutions to pressing unmet needs. AOA exemplifies all these attributes. Far too many women have suffered from the lack of an accurate and early diagnosis for ovarian cancer. We believe it is time to change that and we are thrilled to support AOA's team and groundbreaking technology towards this mission." said Michio Painter, Investment Partner at Joyance Partners.
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.