UK – Dxcover, a Glasgow, Scotland, UK-based developer of a blood test that can detect cancer, raised £9.7M in Series a funding.
The £7.5M round was led by Eos Advisory, Mercia Asset Management, Scottish Enterprise, University of Strathclyde, SIS Ventures, Norcliffe Capital, and Mark Bamforth. Dxcover also secured a £2.2M grant from the European Innovation Council.The company intends to use the funds to support the ongoing development of its Liquid Biopsy Platform for the detection of early-stage cancers, including brain and colorectal cancers.Led by CEO Dr Mark Hegarty, Dxcover is a clinical stage liquid biopsy company developing tests for the early detection of multiple cancers. Its novel platform, which is based on research by Professor Matthew J. Baker at the University of Strathclyde, uses infrared spectroscopy to analyse patient blood samples and artificial intelligence (AI) algorithms to detect the presence or absence of disease. Having initially proven the technology for the detection of brain cancer, the company expanded its focus to eight cancers and a study in 2022 demonstrated its ability to detect multiple cancers at the earliest stage. Dxcover now employs a 15-strong team led by Dr Mark Hegarty. 01/02/2023
