LONDON--(BUSINESS WIRE)--Biomarker pioneer Inoviv has secured significant funding from venture capital firm Hoxton Ventures and leading investment manager Foresight Group to expand the delivery of highly accurate, fully quantitative targeted biomarker workflows and panels.
Building on previous funding from Hoxton Ventures, this latest investment will enable Inoviv to further expand its commercial activities to support the pharmaceutical and biotech space in support of clinical proteomics, including clinical trial monitoring, while also extending R&D capacity and innovation to address the fast-growing biomarker market and accelerate the development and approval of life-changing therapeutics. Inoviv offers bespoke and “off-the-shelf,” multiplexed, fully quantitative, and validated assays. This round of investment will help to accelerate Inoviv’s product pipeline from the Neurological and Fibrosis space to Oncology and beyond.
Inoviv’s breakthroughs in mass spectrometry include developments in hybrid assays to allow multiplexing of previously immeasurable biomarkers and rapid standards development to support quantitative workflows. These panels can measure 50+ fully calibrated and validated, definitive biomarkers per sample covering a range of analytes across different sample types that are highly reproducible. Assays can be tailored according to the drug, disease, and mechanism of action, and are carried out in GLP/GCP accredited laboratories.
Michael Dove, CEO at Inoviv, said: “We are delighted to announce this investment from Hoxton Ventures and Foresight Group. There has never been a more pressing need for technologies that can deliver definitive, fully quantitative data to accelerate clinical development and regulatory approval. This funding represents a significant milestone in Inoviv’s journey and will allow us to grow the capacity we need to deliver on the promise of precision biomarkers for the global pharmaceutical research community.”
Danielle Gubbay, Senior Investment Manager at Foresight Group, commented: "Inoviv has pioneered a groundbreaking technology platform rooted in targeted proteomics, poised to revolutionize the landscape of biomarker test development for pharmaceutical companies. We are excited to support the team, alongside Hoxton Ventures, on their journey to commercial success.”
Rob Kniaz, General Partner at Hoxton Ventures, stated: "The results delivered by Inoviv's assays are game-changing in the acceleration of life changing therapies across a range of disease areas where existing technologies can't deliver, allowing for rapid and scalable testing. We look forward to seeing the increasing momentum behind Inoviv's technology and its growing applications in support of drug development and clinical trials."
