A Scottish life sciences start-up developing technology to improve cancer diagnostics has secured £1.58 million in fresh funding as it launches its first commercial product in the United States.
BIOCAPTIVA, a spin-out from University of Edinburgh, is aiming to tackle one of the most persistent technical bottlenecks in the rapidly growing liquid biopsy sector: the preparation of blood samples for genetic testing.
The company’s newly launched msX technology uses magnetic bead extraction to isolate cell-free DNA directly from whole blood, eliminating several complex steps normally required in sample preparation. The approach could significantly accelerate cancer research and diagnostic testing by making the process faster, more scalable and easier to automate.
The latest investment round was led by Archangels and supported by existing investors including Old College Capital, BBI Solutions and Scottish Enterprise, alongside new investor EverQuest Capital Partners.
Liquid biopsy, a technique that analyses genetic material from blood samples rather than tumour tissue, has become one of the most promising developments in cancer diagnostics in recent years. It enables clinicians and researchers to detect cancer-related genetic changes through simple blood tests, reducing the need for invasive surgical biopsies.
However, preparing blood samples to isolate usable genetic material remains a complex and time-consuming process. Traditional methods typically require centrifugation equipment, multiple reagents and extensive laboratory handling, all of which slow down analysis and increase costs.
BIOCAPTIVA’s patented msX platform aims to simplify this process. By using specialised magnetic beads, the system captures cell-free DNA directly from whole blood samples without the need for centrifuges or additional reagents.
The result is higher-quality DNA extraction with faster processing times and fewer technical steps, improvements that could allow laboratories to process larger volumes of samples more efficiently.
Chief executive Jeremy Wheeler said the technology addresses a long-standing gap in cancer research workflows.
“Scientists and technologists are doing remarkable work with the samples they receive, but the preparation stage hasn’t evolved significantly for years,” he said.
“Our msX platform has the potential to revolutionise how samples are collected and processed, enabling larger sample volumes, faster extraction and fully automatable workflows.”
The company has already begun commercialising the technology internationally, launching its msX bead kits for research use in Boston earlier this month.
The move reflects BIOCAPTIVA’s strategy to build early validation and research partnerships in the United States, one of the world’s largest markets for oncology diagnostics and biotechnology innovation.
By placing the technology in the hands of research laboratories, the company hopes to generate evidence across multiple applications in cancer detection, genetic testing and clinical diagnostics.
The liquid biopsy market itself is expected to grow rapidly over the coming decade as non-invasive diagnostic methods become increasingly important in personalised medicine.
Industry analysts estimate that global demand for liquid biopsy technologies could reach tens of billions of dollars annually as healthcare systems adopt earlier cancer detection and monitoring techniques.
Alongside the funding announcement, BIOCAPTIVA also confirmed the appointment of Alan Schafer as chief technology officer.
Schafer brings more than three decades of experience in genetics technologies and molecular diagnostics. His career includes senior leadership roles across several high-profile biotech companies.
He previously served as CTO of Inivata, which was acquired by NeoGenomics in 2021 for $415 million.
His earlier roles include chief executive positions at Population Genetics Technologies and 14M Genomics, as well as serving as global vice-president of technology development at GlaxoSmithKline.
The company believes Schafer’s experience in scaling diagnostics technologies will help accelerate the commercialisation of its platform.
The £1.58 million investment will primarily be used to expand research and development and broaden BIOCAPTIVA’s product portfolio.
Future applications for the technology could extend beyond cancer diagnostics into other areas of genetic testing and molecular medicine.
Sarah Hardy, head of new investment at Archangels, said the company was entering a critical stage in its development.
“BIOCAPTIVA is reaching an inflection point with the launch of its msX beads,” she said.
“The technology has remarkable market potential, and the business now has the leadership team, research capability and commercial strategy needed to scale.”
The investment also reflects continued momentum in Scotland’s life sciences sector, which has become an important driver of economic growth and high-value employment.
Derek Shaw, director of entrepreneurship and investment at Scottish Enterprise, said the agency’s support for BIOCAPTIVA demonstrates a broader commitment to scaling innovative companies emerging from Scottish universities.
“Our investment highlights our focus on increasing capital investment in Scotland’s businesses,” he said.
“Supporting companies like BIOCAPTIVA helps drive productivity, expand exports and create higher-value jobs across the economy.”
As BIOCAPTIVA expands its research partnerships and product development pipeline, the company hopes its technology will help accelerate advances in cancer detection and treatment.
For Wheeler, the long-term ambition is clear.
“In practice, this technology means faster, deeper research on cancer and potentially better outcomes for millions of patients worldwide,” he said.
Amy Ingham
Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.
