Funding profile · Cancer diagnostics

AOA Dx

Five Form D notices since 2021 report $38.7 million sold. The last figure the company gave publicly was $24 million, in October 2023. The largest offering is the newest, and it is about a quarter sold.

$38.7MTotal sold across five AOA Dx Form D filings, 2021 to 2025
$24.0MTotal raised, company-reported, October 2023
$8.09MSold of $30.58M offered, latest Form D (Oct 2025)
$807KRaised by five single-company SPVs from 88 investors

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
Feb to Jul 2021 Notes and options, YC batch $2,500,000 of $2,500,000 38; Y Combinator Form D
Nov 2021 Options to acquire $2,639,450 of $5,000,000 33; not named Form D
Dec 2021 SPV: AOA Dx (Seed 2), TBD Angels $272,000 24 Form D
Sep 2022 Seed rounds announced closed $7,000,000 Avestria Ventures, AlleyCorp, The Helm, RH Capital, Olive Tree Capital; the release adds Y Combinator, 360Dx adds Tencent Company release
Jul 2023 Equity $23,611,721 of $24,188,865 119 Form D
Aug 2023 SPV: AOA Dx Series Seed, TBD Angels $178,000 15 Form D
Oct 2023 Announced as oversubscribed $17,000,000 Led by Good Growth Capital, with RH Capital, Y Combinator, LongeVC, The Helm, VU Venture Partners, FemHealth Ventures and Labcorp Venture Fund Company release
Dec 2024 Debt and options, bridge $1,845,060 of $7,500,000 15 Form D
Dec 2024 SPV: AOA Dx Insider Bridge, TBD Angels $85,860 19 Form D
Jan 2025 SPV: AOA Dx, VUVP Fund $198,392 13 Form D
Oct 2025 Equity and options $8,085,364 of $30,582,903 40 Form D
Oct 2025 SPV: AOA Dx Series A Tranche 1, TBD Angels $72,500 17 Form D

What the filings show

AOA DX Inc. · Form D · filed Oct 15, 2025

First sale
Oct 1, 2025
Offered
$30,582,903 equity and options
Sold
$8,085,364 · $22,497,539 remaining
Investors
40 · average about $202,000
Exemption
Rule 506(b)
Related persons
Oriana Papin-Zoghbi (executive officer, director); Surbhi Sarna and John Friedman (directors); Anna Milik Jeter, Alexander James Fisher and Abigail Mcelhinny (executive officers)
Filing
SEC EDGAR, CIK 0001869920

AOA DX Inc. · Form D · filed Dec 19, 2024

First sale
Dec 5, 2024
Offered
$7,500,000 debt and options
Sold
$1,845,060 · $5,654,940 remaining
Investors
15 · average about $123,000
Exemption
Rule 506(b)
Related persons
The same six, address given as Denver
Filing
SEC EDGAR, CIK 0001869920

AOA DX Inc. · Form D · filed Jul 26, 2023

First sale
Jul 11, 2023
Offered
$24,188,865 equity
Sold
$23,611,721 · $577,144 remaining
Investors
119 · average about $198,000
Exemption
Rule 506(b)
Related persons
Papin-Zoghbi, Sarna, Friedman, Jeter, Fisher; address given as Boulder
Filing
SEC EDGAR, CIK 0001869920

Reading the filings

  1. The filing came first, and it was larger than the announcement.The Form D reporting $23,611,721 sold was filed July 26, 2023, eleven weeks before the October 12 release announcing $17 million. Add the $5,139,450 sold under the two 2021 notices to that $17 million and you get $22.1 million, within about $1.5 million of the filed figure: the shape of a priced round into which earlier notes convert.
  2. No Form D covers the 2022 seed close.The company announced in September 2022 that it had closed both seed rounds for $7 million. No Form D was filed in 2022 under its CIK. Sales under Section 4(a)(2) require no Form D, so the silence proves nothing either way.
  3. Angels came in through five separate vehicles.TBD Angels Master LLC filed four AOA Dx series and VUVP Fund one, raising $806,752 between them from 88 investors, about $9,200 each. Sydecar administers three. The largest, $272,000 from 24 investors in December 2021, predates the announced seed close by nine months.
  4. The newest offering is the biggest and the least filled.October 2025 registered $30,582,903 and reported $8,085,364 sold, 26% of it, from 40 investors averaging about $202,000. A TBD Angels series named Series A Tranche 1 recorded its first sale on the same day.
  5. Founder board seats became investor board seats.The 2021 notices list all three co-founders as directors. From July 2023 the directors are Papin-Zoghbi, Surbhi Sarna and John Friedman, listed as a partner at Good Growth Capital, which led the 2023 round. Jeter and Fisher appear after that as executive officers only.
  6. Almost none of it is non-dilutive.No NIH or NSF award to AOA Dx appears in the federal grant records. The only grant the company has announced is CAD 650,000 awarded in 2021 by the Canadian Institutes of Health Research to Professor H. Uri Saragovi, whose McGill work AOA Dx licensed.

Commercial signals

Signal Detail Source type
Regulatory No FDA 510(k) or PMA record as of Sep 22, 2026. In 2021 the CEO described a 510(k) De Novo path and a US market date of 2025. Public record
Revenue None disclosed. Every Form D reports revenue range as decline to disclose. Public record
Product AKRIVIS GD, in preparation for an early access program in 2026. No published price. Company-stated
Evidence Three peer reviewed papers, 2025 to 2026, all company funded. Holdout AUC 92% all stage, 88% early stage. Public record
Studies OVERT (first patient Jan 2023) and APEX (first participant May 2026). Neither found on ClinicalTrials.gov. Not found
Strategic Labcorp Venture Fund invested in 2023. Team size 25 on the Y Combinator profile. Company-stated

What to watch

  • An amended Form D showing the remaining $22.5 million of the October 2025 offering sold.
  • Whether that offering is described publicly as a Series B, given that the syndicate vehicle calls it Series A Tranche 1.
  • Registration or readout of OVERT or APEX, the studies the 2023 round was raised to fund.

The AOA Dx story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • YourChoice Therapeutics: Shared investor: Olive Tree Capital. A San Francisco company developing YCT-529, an oral non-hormonal male contraceptive licensed from the University of Minnesota
  • FidoCure: Shared investor: Vuvp Fund. A tumor sequencing service that routes dogs with cancer toward human targeted therapy drugs, compounded to canine doses
  • VenoStent: Shared investor: Good Growth Capital. A bioabsorbable polymer sleeve that a surgeon slips over a newly built dialysis fistula and leaves behind to dissolve
  • Serif Health: Shared investor: Olive Tree Capital. A company whose whole product is the cleanup of two federal disclosure rules

Sources

  1. Public recordForm D, AOA DX Inc., CIK 0001869920SEC · 2021 to 2025, five filings
  2. Public recordForm D filings by four TBD Angels Master LLC series and one VUVP Fund seriesSEC · 2021 to 2025
  3. Public recordSearch for AOA Dx, AKRIVIS and OVERT, no matching studiesClinicalTrials.gov · Sep 22, 2026
  4. Public record510(k), PMA, NIH and NSF award databases, no records for AOA DxFDA, NIH, NSF · Sep 2026
  5. IndependentBoston biotech AOA Dx has raised new funding and moved to ColoradoBizwomen · Oct 12, 2023
  6. IndependentAOA Dx closes $7M funding round for ovarian cancer test360Dx · Sep 15, 2022
  7. IndependentAOA Dx secures $17M to advance its ovarian cancer diagnostic testFemtech Insider · Oct 11, 2023
  8. InterviewOriana Papin-Zoghbi, AOA Dx, episode transcriptAngel Invest Boston · Nov 8, 2021
  9. CompanyFunding, study and appointment releases, news archiveaoadx.com · 2021 to 2026
  10. CompanyAOA Dx company profile, team size and batchY Combinator · Sep 2026

Compiled from SEC, FDA, NIH, NSF and ClinicalTrials.gov public records and published reports as of September 22, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Healthcare Venture Capital Fund holds no position in AOA Dx. This page is not an offer to sell or a recommendation to buy any security.