MS play Octave adds Scangos to board, raises $14M series A

Multiple sclerosis company Octave Bioscience Inc. (Menlo Park, Calif.) raised $14 million on July 12 in a series A round led by new investor BlueCross BlueShield Venture Partners. Echo Health Ventures, Section 32 and other new and existing investors also participated.

George Scangos joined Octave's board, along with Section 32's Michael Pellini. Scangos, who is CEO of Vir Biotechnology Inc. (San Francisco, Calif.), was CEO of Biogen Inc. (NASDAQ:BIIB) from 2010 to 2016. Pellini was CEO of Foundation Medicine Inc. (NASDAQ:FMI) from 2011 to 2017...