Investing in a successful spinout
Old College Capital, the University of Edinburgh’s in-house venture investment fund, has joined leading business angel syndicate Archangels together with Scottish Enterprise and Cancer Research UK’s innovation engine Cancer Research Horizons, in the additional seed funding round of BioCaptiva.
The investment will fund the first in-human trial for the BioCaptis – expected to generate its first data before the end of 2022 – and prepare for regulatory trials in 2023.
Transforming liquid biopsy testing
The University of Edinburgh spinout is developing the BioCaptis – a revolutionary cell-free DNA (cfDNA) capture device. The BioCaptis captures up to 100x more cfDNA than a conventional blood draw, increasing the quality and quantity of cfDNA available for liquid biopsy testing.
By providing higher quantities of cfDNA, this technology potentially allows the testing of a far greater number of cancer types and stages in a much wider range of patients, improving early diagnosis and monitoring of disease and enhancing clinical trial data of cancer patients.
Andrea Young, Head of Investment at Old College Capital, said
Old College Capital is delighted to support BioCaptiva by joining this additional seed financing. The company’s technology is the result of collaborative research by two world-leading University of Edinburgh academics and its goals are perfectly aligned with the Old College Capital mandate.
We look forward to working with BioCaptiva and a strong syndicate of investors led by Archangels to make the BioCaptis device a success.
Jeremy Wheeler, CEO of BioCaptiva, pictured above, said
“BioCaptiva is at the forefront of developing technology to transform liquid biopsy testing in cancer management. We are pleased to have raised these additional funds as the company enters its next stage of development, with the BioCaptis beginning its first in human trials.
These trials will allow us to generate important data before the end of 2022. This will be a key step before starting regulatory trials in 2023 as we move towards our goal of unleashing the full potential of liquid biopsy in cancer management to improve patient outcomes.
Sarah Hardy, Director and Head of New Investments at Archangels, said
In 2021, Archangels supported the spinout of BioCaptiva from the University of Edinburgh based on the technology developed from Professor Tim Aitman and Professor Mark Bradley’s research. Since then, the company has made remarkable progress and is poised to begin the first in-human trials with BioCaptis just over a year after its formation.
We are pleased to lead this financing to support the company in generating its first in human data, and towards its ambition of ensuring that the BioCaptis device can play a key role in realizing the full potential of liquid biopsy testing for cancer management.
Old College Capital
Old College Capital aims to support the University of Edinburgh’s research, staff and students by investing in high-growth, early-stage businesses associated with the University.
Edinburgh Innovations continues to support BioCaptiva as an engaged shareholder, with the position managed by EI’s Investment Team. For more information about how the University manages its shareholdings in early-stage companies, read about the Edinburgh Technology Fund.
If you are interested in spinout or in exploring how Edinburgh Innovations can support innovation in your organisation, please get in touch.
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