BIOCAPTIVA raises £1.58m to accelerate liquid biopsy technology in cancer research

A Scottish life science start-up to improve cancer diagnostics has received £1.58 million in new funding as it launches its first commercial product in the United States.

BIOCAPTIVA, a spin-out from the University of Edinburgh, aims to tackle one of the most persistent technical challenges in the rapidly growing field of liquid biopsy: the preparation of blood samples for genetic testing.

The company’s newly introduced msX technology uses magnetic bead extraction to isolate cell-free DNA directly from whole blood, eliminating several complex steps often required in sample preparation. This approach can greatly accelerate cancer research and diagnostic testing by making the process faster, scalable and easy to automate.

The latest investment round was led by Archangels and supported by existing investors including Old College Capital, BBI Solutions and Scottish Enterprise, as well as new investor EverQuest Capital Partners.

Liquid biopsy, a procedure that analyzes genetic material from blood samples instead of tumor tissue, has been one of the most promising advances in cancer diagnosis in recent years. It enables doctors and researchers to detect genetic changes associated with cancer using a simple blood test, reducing the need for invasive surgical biopsies.

However, processing blood samples to isolate usable genes remains a complex and time-consuming process. Traditional methods often require centrifugation equipment, multiple reagents and extensive laboratory management, all of which slow analysis and increase costs.

BIOCAPTIVA’s patented msX platform aims to simplify this process. Using special magnetic beads, the system captures cell-free DNA directly from whole blood samples without the need for centrifuges or additional reagents.

The result is high-quality DNA extraction with faster processing times and fewer technical steps, an improvement that can allow laboratories to process large volumes of samples more efficiently.

Chief executive Jeremy Wheeler said the technology addresses a long-standing gap in cancer research practice.

“Scientists and technicians do an excellent job with the samples they receive, but the preparation phase has not changed much over the years,” he said.

“Our msX platform has the potential to revolutionize the way samples are collected and processed, enabling larger sample volumes, faster throughput and fully automated workflows.”

The company has already begun commercializing the technology globally, launching its msX beads for research use in Boston earlier this month.

This 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 putting the technology in the hands of research laboratories, the company hopes to generate evidence across multiple applications in cancer detection, genetic testing and clinical diagnosis.

The liquid biopsy market is expected to grow rapidly over the next decade as non-invasive diagnostic methods become increasingly important in personalized medicine.

Industry analysts estimate that global demand for liquid biopsy technology could reach tens of billions of dollars annually as health care systems implement early cancer detection and monitoring methods.

Alongside the financial announcement, BIOCAPTIVA also confirmed the appointment of Alan Schafer as Chief Technology Officer.

Schafer brings more than three decades of experience in genetic engineering and molecular diagnostics. His career includes senior leadership roles at several top biotech companies.

He previously served as CTO of Inivata, which was acquired by NeoGenomics in 2021 for $415 million.

His previous roles include senior positions at Population Genetics Technologies and 14M Genomics, as well as serving as global vice president of technology development at GlaxoSmithKline.

The company believes that Schafer’s experience in developing diagnostic technology will help accelerate the commercialization of its platform.

The £1.58 million investment will be used primarily to expand research and development and expand BIOCAPTIVA’s product portfolio.

Future applications of the technology may extend beyond cancer diagnosis to other areas of genetic testing and molecular medicine.

Sarah Hardy, head of new investments at Archangels, said the company is entering a critical phase in its development.

“BIOCAPTIVA is reaching a new milestone with the launch of its msX beads,” he said.

“Technology has incredible market potential, and business now has the leadership team, research capabilities and commercial strategies needed to unleash it.”

The investment also reflects the continued momentum in Scotland’s life sciences sector, which has become a key driver of economic growth and high-value employment.

Derek Shaw, director of business and investment at Scottish Enterprise, said the organisation’s support for BIOCAPTIVA reflects a wider commitment to growing new companies from Scottish universities.

“Our investment highlights our focus on increasing investment in Scottish businesses,” he said.

“Supporting companies like BIOCAPTIVA help drive productivity, increase exports and create high-value jobs throughout the economy.”

As BIOCAPTIVA expands its research partnerships and product development pipeline, the company hopes its technology will help accelerate progress in cancer detection and treatment.

For Wheeler, the long-term ambition is clear.

“In essence, this technology means faster, deeper cancer research and potentially better outcomes for millions of patients around the world,” he said.