Biosignatures, a Newcastle Upon Tyne, UK-based diagnostic technology company focused on blood tests, raised £3.5m in funding.
The round was led by ADV.
The company is using the funds to analyse hundreds of thousands of samples from biobanks, starting in the UK, with the goal of developing 20 novel diagnostic screening tests. All 20 tests could be performed on one blood sample and will be targeted at cancers and dementias.
Led by Will Dracup, co-founder and CEO, and Dave Bramwell, co-founder and CTO, Biosignatures has developed a machine learning system which, alongside its sample measurement system, represents a cost-effective step forward in the discovery of new clinical diagnostic tests. The company’s first product is a blood test for prostate cancer discovered with the UK’s NHS.