Scottish life science company Biocaptiva has secured £2.1m from an oversubscribed additional funding round.
The University of Edinburgh spin-out is developing BioCaptis, a cell-free DNA capture device aimed at transforming liquid biopsy testing for cancer management.
The financing was led by existing investor Archangels, joined by Scottish Enterprise and Cancer Research Horizon, the new innovation engine of Cancer Research UK, alongside new investor Old College Capital, the University of Edinburgh’s in-house venture fund.
The money will be used to fund the first in human trials of BioCaptis, expected to generate its first data before the end of 2022, and to prepare for regulatory trials, which are planned to start in 2023.
The product claims to be able to capture up to 100 times more cell-free DNA than a conventional blood draw, increasing the quality and quantity of cell-free DNA available for liquid biopsy testing.
Jeremy Wheeler, chief executive at Biocaptiva, said: “We are pleased to have raised these additional funds as the company enters its next stage of development, with the BioCaptis beginning its first in human trials.
“These trials will allow us to generate important data before the end of 2022, which will be a key step before starting regulatory trials in 2023, as we move towards our goal of unleashing the full potential of liquid biopsy in cancer management to improve patient outcomes.”
Sarah Hardy, director and head of new investment at Archangels, added: “We are pleased to lead this financing to support the company in generating its first in human data, and towards its ambition of ensuring that the BioCaptis device can play a key role in realising the full potential of liquid biopsy testing for cancer management.”
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