We have advised Oxford Cancer Analytics Ltd (OXcan), UK based company, on its Series A investment round to transform early lung cancer detection.
The Series A funding round of USD$11 million was led by We Venture Capital and Cross-Border Impact Ventures, with participation from return investors Eka Ventures and Civilization Ventures, and new investors DigitalDx Ventures, Macmillan Cancer Support, Aurelium Ventures, OKG Capital, and several angel investors. The investment will be used to develop and globally commercialise its new product.
Founded in 2020, OXcan's multidisciplinary team is developing a new generation of liquid biopsy blood tests using cutting-edge proteomics and explainable machine learning approaches that can detect the deadliest cancers early, when they can still be cured. OXcan is now working with over 20 healthcare centres on three continents – including pioneers in existing lung cancer screening paradigms – to develop and deploy the technology.
Commenting on the transaction, corporate partner, James Homan said: "It's been a pleasure to support OXcan on this milestone after supporting their previous two funding rounds. We've been inspired by the outstanding achievements by Peter, Andreas and the wider OXcan team in creating a reliable blood test for early lunger cancer detection and we look forward to continue supporting OXcan on its growth journey."
Dr. Peter Jianrui Liu, CEO and co-founder of Oxford Cancer Analytics, said: "We are delighted to announce a further investment of USD$11 million from new and existing investors as a part of Oxford Cancer Analytics’ Series A round. Using state-of-art proteomics and tailored AI approaches, OXcan is developing a blood test to enable earlier detection and treatments with curative intents, starting with lung cancer. The support of the Taylor Wessing team has been invaluable and we are grateful to them once again for their expertise and hard work for guiding us through the transaction."
The team consisted of partner James Homan, senior associate Nicola Caton, and associate Ben Eaves in the corporate team with specialist support across the IP, commercial, employment and incentives teams.
