Edinburgh Uni spin-out at cutting edge of cancer research gets £1.6m injection
“The market potential for the technology is remarkable” – Sarah Hardy, director, Archangels
A Scottish biotech firm behind a platform that could revolutionise the early diagnosis and monitoring of difficult-to-detect cancers has raised £1.6 million in a fresh funding round and launched its first product in the US.
University of Edinburgh spin-out business BioCaptiva’s technology is designed to solve one of liquid biopsy’s biggest bottlenecks - preparing blood samples for cancer research and diagnostics. By improving how cell-free DNA is captured from blood, the technology aims to make liquid biopsy testing more reliable, scalable and accessible.
The firm launched its kits for research use to build a body of evidence across a range of applications in Boston, in the US, earlier this month.
Its latest financing round was led by existing investor Archangels, with support from Old College Capital, BBI, Scottish Enterprise and new investor EverQuest Capital Partners.
To further cement its growth, the company has appointed Alan Schafer as chief technology officer. Schafer brings more than 30 years' experience in genetics technologies and molecular diagnostics, including roles at Inivata (acquired by NeoGenomics in 2021) and GlaxoSmithKline.
Jeremy Wheeler, chief executive of BioCaptiva, said: “Oncology is an exciting and vibrant sector. The scientists and technologists have been doing incredible things based upon the samples that they’re given, but there hasn’t been any particular movement in how the samples are prepared for years.
“Our msX platform has the potential to revolutionise how samples are collected, allowing for larger samples, faster extraction, simpler processing, and fully automatable capabilities.
“In practice, that means faster, better and deeper iteration and research on cancer, leading to better outcomes for potentially millions of people globally. This new funding brings us closer to achieving that goal.”
Sarah Hardy, director and head of new investment at Archangels, said: “BioCaptiva is at an inflection point in its growth trajectory with the launch of its new msX beads. The market potential for the technology is remarkable, and with the products, the senior leadership and the research and development capability within the business, we’re confident about the future success of BioCaptiva.”
Founded in 1992, the Archangels angel investment syndicate has around 120 members.
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