Dxcover Secures Grant from the European Innovation Council to Further Develop Platform for Early Cancer Detection Using Infrared Spectroscopy
Dxcover Limited, a clinical-stage diagnostics company developing spectroscopic liquid biopsy technology for early detection of multiple cancers, has announced that it has been awarded a grant from the European Innovation Council (EIC) through its Accelerator program. The grant will support the company’s development of its liquid biopsy platform for early-stage cancers, and is specifically designed to achieve the CE Mark for the Dxcover Brain Cancer test.
The EIC Accelerator offers start-ups and small to medium enterprises (SMEs) grants of up to €2.5 million combined with equity investments through the EIC Fund ranging from €0.5 to €15 million. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors.
“We’re excited to be awarded this Innovation grant from the EIC and believe it further serves to validate our differentiated approach to cancer detection through our novel infrared spectroscopy platform,” said Mark Hegarty, CEO, Dxcover. “Detecting cancer at its earliest stage has the best outcome for patients and we are looking forward to taking our Dxcover Brain Cancer test to market by achieving the CE Mark.”
Dxcover has pioneered the early detection and identification of cancer by employing infrared spectroscopy of circulating pan-omic biomarkers. Its platform combines novel hardware with artificial intelligence algorithms to analyze a patient’s blood and detect the presence or absence of disease. The company has previously released data on how its infrared spectroscopy liquid biopsy technology has been able to detect 96% percent of patients with brain tumors, and identified all patients with Glioblastoma Multiforme, the most aggressive type of brain cancer. The company has published data on detection of 8 cancers with plans to accelerate the development of its test for colorectal cancer.
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