News Summary

Oxford Cancer Analytics (OXcan), a UK and Toronto-based medtech startup, has raised $16 million CAD in Series A funding to advance its early-stage lung cancer detection technology. The company utilizes proteomics and artificial intelligence (AI) to analyze blood tests, which aim to identify lung cancer at earlier stages when treatment options are more effective. The funding round was co-led by We Venture Capital and Toronto’s Cross-Border Impact Ventures. OXcan plans to launch its protein-based blood test in the United States later this year, pending regulatory approval, and eventually expand to the UK and European Union. Founded in 2020 by Oxford University graduates Dr. Peter Jianrui Liu and Andreas Halner, OXcan is working with healthcare centers across three continents to develop its technology. The startup has a presence in Toronto and plans to grow its Canadian team.