BIOCAPTIVA secures £1.58M to transform how blood samples are prepared for liquid biopsy
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 a 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 centrifuges or additional reagents, delivering higher quality samples with simpler, faster processing. The technology has the potential to improve the pace and scale of cancer research by addressing a long-standing bottleneck in how samples are prepared for liquid biopsy, which is a growing market in non-invasive genetic testing.
BIOCAPTIVA launched its msX kits for research use to build a body of evidence across a range of applications in Boston earlier this month.
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 $415m), CEO at Population Genetics Technologies and 14M Genomics, and former VP Technology Development (Global) at GlaxoSmithKline.
The funding will also support R&D investment to expand BIOCAPTIVA's product range and potential applications.
Jeremy Wheeler, CEO 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 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.”
For further information on BIOCAPTIVA, please visit: biocaptiva.com
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About Archangels
Archangels is one of the UK's leading angel investment syndicates, connecting seasoned investors with Scotland's most promising early-stage technology and life science companies. Founded in 1992, Archangels provides its members with carefully-curated investment opportunities, backed by rigorous due diligence, to fuel the growth of innovative companies and help them reach their fullest potential.
With around 120 members, a twelve-strong board and executive team, and 20+ portfolio companies, Archangels brings deep expertise, proven experience and a track record to early-stage investing in Scotland.
To date, Archangels has invested almost £200m in some of Scotland’s most exciting early-stage companies, supporting the creation of 5,000 jobs, and generating £1.5bn in economic value for the Scottish economy. It has also supported 26 businesses in achieving successful exits, returning gross proceeds of well over £400m to all shareholders.
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About Old College Capital
Old College Capital is the University of Edinburgh’s in-house venture investment fund. OCC manages Edinburgh’s early-stage investment activities and shareholdings; supporting exciting ideas and technologies emerging from the University.
About EverQuest Capital
EverQuest Capital is an investment fund focused on Deep MakeTech — the science and technology of making things. It works closely with the Centre for Process Innovation (CPI) to help promising companies overcome critical bottlenecks across value chains in all sectors.