News Summary

Oxford Cancer Analytics (OXcan), a medtech company based in Oxford, UK and Toronto, Canada, specializing in blood tests for early cancer detection, has successfully raised $11 million in a Series A funding round. The funds were raised from global investors, including prominent institutional investors in disease detection and diagnostics. This brings OXcan’s total funding to date to $16.7 million. The funding round was led by We Venture Capital and Cross-Border Impact Ventures, with participation from Eka Ventures, Civilization Ventures, and new investors like DigitalDx Ventures and Macmillan Cancer Support.

OXcan is focused on developing minimally invasive liquid biopsy blood tests for early cancer detection, particularly lung cancer, which is the leading cause of cancer deaths worldwide. Their innovative approach combines advanced proteomics and AI to identify key biomarker signatures, offering superior performance in early cancer detection. The company collaborates with global partners and healthcare centers, leveraging a diverse biobank for reliable biomarker identification across different populations.

The recent funding will aid in the global commercialization of their blood test, enhancing lung cancer screening, improving patient outcomes, and reducing healthcare burdens. Notably, OXcan is integrated with the MaRS, Vector Institute’s FastLane program, and H2i at the University of Toronto, and has been part of Ontario’s trade missions. The company has expanded its team to 15 members across the UK, US, and Canada, with plans for further technology deployment globally.