Xeraya Capital-backed InterVenn Biosciences raises $34m in Series B round

US-based InterVenn Biosciences, a portfolio company of Malaysia private equity and venture capital firm Xeraya Capital, has raised $34 million in an oversubscribed Series B funding.

New investor Anzu Partners led the round and was joined by Genoa Ventures, Amplify Partners, True Ventures, Xeraya Capital and the Ojjeh Family, according to a statement dated November 16. Anzu Partners managing partner David Michael will also join InterVenn’s board.

With this, InterVenn has raised a total of $43 million, including a $9.4 million Series A round in 2018, according to Crunchbase data.

The Series B funding is to develop a glycoproteomic-powered diagnostic tool, targeting ovarian cancer, for clinical use by early next year. The funds will be used to commercialise the diagnostic tool for ovarian cancer, increase partnerships and to accelerate development efforts for the company’s immuno-oncology treatment response and colorectal cancer indications.

InterVenn, a South San Francisco-based company, is using artificial intelligence and mass spectrometry to develop precision medicine capabilities, focusing on the role of protein glycosylation to find treatments for ovarian, pancreatic, liver, prostate and kidney cancers.

“We are just speeding up what they have been doing,” InterVenn CEO Aldo Carrascoso told Crunchbase News. “We already have over 2,000 indications.”

Last week, Xeraya announced its participation in a globally syndicated $50 million Series C investment in Congenica, a digital health company in the UK.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.