Oxford Cancer Analytics (OXcan) has secured $11m in Series A funding for the development of its liquid biopsy blood tests for early cancer detection.
This investment increases OXcan’s total funding to $16.7m, enabling the company to develop and commercialise the minimally invasive tests globally.
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Cross-Border Impact Ventures and We Venture Capital led the funding round, with contributions from existing investors Eka Ventures and Civilization Ventures. The round also saw participation from other investors, including DigitalDx Ventures, Macmillan Cancer Support (Innovation Impact Investment Portfolio), and OKG Capital.
In conjunction with the funding, the senior investment manager at We Venture Capital, Gemma Sturt, as well as Cross-Border Impact Ventures’ managing partner, Annie Theriault, have joined OXcan’s board of directors.
Additionally, OXcan has appointed Dr Heinrich Roder as senior vice president of research and development, bringing more than two decades of experience in lung cancer liquid biopsy and commercialisation.
Dr Roder said: “Having developed blood-based proteomic tests for lung cancer for over two decades, I appreciate the difficulty of detecting cancers early through liquid biopsy.
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By GlobalData“Convinced that OXcan’s unique approach can address this clinical need, I feel privileged to join the team. Together, our plan is to offer this novel technological approach to large markets worldwide to start a new era of early detection and improve patient outcomes.”
Founded in 2020 by CEO Dr Peter Jianrui Liu and chief operating officer Dr Andreas Halner, OXcan’s patented approach and its ‘advanced’ proteomics lab have enabled the development of a machine learning platform.
As the leading cause of cancer deaths worldwide, lung cancer is OXcan’s primary focus.
The company’s protein-based blood test claims to provide a molecular signature for individuals at high risk of this cancer type.
