Dxcover develops the PANAROMIC™ Platform and MOSA-Dx™ multiomic spectral analysis approach to enable early detection of solid tumor cancers from minute liquid biopsy samples. The platform uses AI-driven analysis and reports results with a one-day turnaround, supported by data from over 9,000 patients and 250,000 spectra to tune sensitivity and specificity. Dxcover’s technology is globally patented and intended to provide rapid, clinician-actionable results to improve patient management. With the new $6.2M investment (bringing total funding to $21.4M since its 2019 spinout), the company will further advance its proprietary technologies and scale operations. Plans include expanding into new markets and indications, commercializing a Brain Cancer Liquid Biopsy across the UK and Europe, and establishing a US headquarters in Nashville following US incorporation in 2024. Recent senior leadership appointments (co-founders as CSO and CTO and a General Manager for UK/US sites) are aimed at accelerating commercialization and international growth. Dxcover develops a liquid biopsy platform that uses infrared spectroscopy of blood samples combined with AI algorithms to detect pan-omic biomarkers for early-stage cancers. The company has generated clinical data showing high-accuracy detection of Stage I and Stage II cancers and expanded its technology to eight cancers in 2022. The funding announced will accelerate development and commercialization of organ-specific tests, beginning with brain cancer and expanded colorectal cancer programs. Dxcover plans a multicenter study toward CE IVDR marking for its Brain Cancer test and will continue collaborative projects to broaden its pipeline. The company was formed in 2019 and is based in Scotland, United Kingdom, while expanding its network in Europe and the USA. Financially, Dxcover announced $11.9M in combined Series A and grant financing to support these activities. ClinSpec Diagnostics is a Glasgow spinout from the Department of Pure and Applied Chemistry at the University of Strathclyde. Led by CEO Mark Hegarty, the company develops a liquid-biopsy blood test for early cancer detection that combines infra-red light and artificial intelligence, based on research by Dr Matthew Baker. The technology is intended as a minimally invasive assay for early detection of cancer. ClinSpec has received grant funding from the Higgs EDGE Special Award and Innovate UK through the precision medicine accelerator fund. It completed seed funding in 2019 and subsequent financing tranches, and has raised £5.1m to date. Following the latest investment, Prof David Onions of Norcliffe Capital joined ClinSpec’s board of directors. ClinSpec Diagnostics develops a multi-cancer early detection test based on a simple blood assay, spun out from the University of Strathclyde. Led by CEO Mark Hegarty, the company has run studies on brain, prostate and pancreatic cancers. It intends to use the funding to progress its multi-cancer development program, complete a second brain cancer trial, and develop a multi-cancer algorithm covering the most common cancers. The company plans to hire five more employees to strengthen scientific and operations teams, bringing headcount to fourteen. ClinSpec was established in 2016 and has raised grant funding from the Higgs EDGE Special Award and Innovate UK alongside prior seed investment. ClinSpec Diagnostics is advancing a blood test that can provide accurate results in ten minutes and aims to improve brain cancer survival through earlier detection. The technology uses infra-red light combined with machine learning and is based on research by Dr Matthew J. Baker at the University of Strathclyde. The company has demonstrated the brain cancer test’s potential in a clinical study at Edinburgh’s Western Infirmary. ClinSpec plans to further develop its brain cancer test and begin work on tests for prostate and pancreatic cancer. Management is led by CEO Dr Mark Hegarty. The firm says the technology also has applications beyond medicine, including testing in the food, drug and oil industries. Financially, the company has secured multiple funding sources to support development and hiring plans.

Total raised

$24M

Funding rounds

6

Latest round

Equity

Latest activity

Feb 2025