ClinSpec Diagnostics Closes £3.5M Funding

ClinSpec Diagnostics

ClinSpec Diagnostics Limited, a Glasgow, Scotland, UK-based developer of liquid biopsies for early detection of cancer, secured an additional funding of £1.1M and closed its target of £3.5M.

The £1.1m investment was made by Norcliffe Capital Limited, the University of Strathclyde, Eos Advisory and the founders. The first tranche of the investment (£2.4M) was secured in 2020 led by Mercia’s EIS Funds with Scottish Enterprise, profit with purpose investor SIS Ventures, Eos Advisory and the University of Strathclyde. In conjunction with the funding, Prof David Onions of Norcliffe Capital joined ClinSpec Dx’ Board of Directors.

Led by Mark Hegarty, CEO, ClinSpec Dx provides liquid biopsy, a blood test using technology using a combination of infra-red light and artificial intelligence, and based on research of Dr Matthew Baker.

A spinout from the Department of Pure and Applied Chemistry at the University of Strathclyde, the company has raised £5.1m to date, including a first round of seed funding in 2019 led by Eos Advisory alongside Mercia’s EIS Funds and Scottish Enterprise, as well as grant funding from the Higgs EDGE Special Award, and from Innovate UK through the precision medicine accelerator fund.