By Healthcare Edge Editorial Staff
Octave Bioscience, Inc., a company offering treatment for multiple sclerosis and other neurodegenerative diseases, said it has received a $10 million grant from The Michael J. Fox Foundation for Parkinson’s Research (MJFF).
The company stated it will utilize the funds for research, development, and validation of a custom protein biomarker panel to quantify Parkinson’s disease activity and progression in the clinic. This will contribute to address an unmet need facing the Parkinson’s community, the company said.
Octave was awarded this grant due to the company’s biomarker research and its commercialization of a multiplexed custom biomarker assay panel for multiple sclerosis, the company stated.
“MJFF is at the forefront of scientific research,” said Octave’s Founder and CEO, William Hagstrom. “We look forward to building on their extraordinary insights as well as their deep knowledge of the disease and its pathophysiology to create the industry’s first validated multiplexed biomarker assay panel for Parkinson’s,” he stated.