University of Edinburgh spin-out BIOCAPTIVA has raised £1.58 million in a new funding round and launched its first product in the US.
BIOCAPTIVA’s novel magnetic bead 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 company's patented msX platform extracts DNA directly from whole blood without the need for centrifugation or additional reagents, delivering higher-quality samples with simpler, faster processing. The technology has the potential to accelerate and scale cancer research by addressing a long-standing bottleneck in liquid biopsy sample preparation, a growing market in non-invasive genetic testing.
BIOCAPTIVA launched its msX kits for research use in Boston earlier this month to build a body of evidence across a range of applications.
The raise 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 as CTO at Inivata (acquired by NeoGenomics in 2021 for $415 million), CEO at Population Genetics Technologies and 14M Genomics, and former VP Technology Development (Global) at GlaxoSmithKline.
According to Jeremy Wheeler, CEO of BIOCAPTIVA, while oncology scientists and technologists have been doing incredible work with the samples they’re given, there hasn’t been any significant progress 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 inflexion 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 the BIOCAPTIVA.”
Derek Shaw, Director of Entrepreneurship and Investment at Scottish Enterprise, said:
“Our investment in BIOCAPTIVA highlights our commitment to helping increase the scale of capital investment by businesses in Scotland to support our economy, drive productivity and create higher-value jobs.
Company growth and productivity can lead to optimised operations, expanded export capabilities and move jobs up the value chain.”
The funding will also support R&D investment to expand BIOCAPTIVA's product range and potential applications.
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