US biotech start-up raises US$17m to develop ovarian cancer diagnostic test

The US biotech start-up AOA Dx has raised US$17m in funding to support the development of its liquid biopsy test for ovarian cancer.

The start-up has developed a “novel” approach to evaluate tumour marker gangliosides in liquid biopsies for early cancer detection and develop new diagnostic tests.

According to AOA Dx, the AKRIVIS GD test is able to detect ovarian cancer in all subtypes and stages, including stage I and II – the most challenging stages to diagnose.

Ovarian cancer is the deadliest gynaecological disease. Up to 95 per cent of women with ovarian cancer have symptoms for many months and consult a doctor, but the average time to diagnosis is nine months.

In 2020, 313,959 women worldwide were diagnosed with ovarian cancer. By 2040 this is estimated to rise to 445,721, an increase of 42 per cent.

Detection of ovarian cancer at early-stages has a five-year survival rate of greater than 90 per cent, but when diagnosed at advanced stages, the five-year survival rate is less than 30 per cent.

AOA Dx has started a prospective study to investigate its liquid biopsy test in an effort to pave the way for early ovarian cancer detection.

The new investment is hoped to fund the trial, assist the company in building new lab facilities in Denver, Colorado and advance its tumour marker ganglioside platform.

“As much as 80 per cent of women are not diagnosed with ovarian cancer until stage III or IV, despite 84 per cent of women showing symptoms as early as stage I,” Oriana Papin-Zoghbi, AOA Dx co-founder and CEO, told Endpoints News.

“Survival rate only stands at 28 per cent after stage I or II, showing the importance of diagnosing patients earlier.

“When I started this company, I set out on a path where there are huge unmet needs on diagnostics for women. Like many things in the realm of women’s health, these are areas that are underresearched and underfunded.

“Our goal is to focus not only on women but on indications that predominantly affect women.”

The new funding brings the start-up’s total raise to US$24m, following its initial seed funding of US$7m in September last year.