Biotech firm secures £1.58 million funding boost

An Edinburgh life sciences spin-out has secured fresh investment to accelerate the development of technology designed to improve how blood samples are prepared for cancer testing.

BIOCAPTIVA has raised £1.58 million in a funding round led by Archangels, with backing from Old College Capital, BBI, Scottish Enterprise and new investor EverQuestCapital Partners.

The University of Edinburgh spin-out has developed a magnetic bead-based platform designed to address a major bottleneck in liquid biopsy testing by improving how cell-free DNA is captured from blood samples.

Its patented msX technology extracts DNA directly from whole blood without centrifuges or additional reagents, helping researchers process samples more quickly while improving quality and consistency.

The company has also launched its msX research kits in the US, introducing the technology to the growing liquid biopsy market.

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, added: “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, added: “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.”

Alongside the investment, BIOCAPTIVA has appointed genetics and molecular diagnostics specialist Alan Schafer as chief technology officer to support further product development.

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