×

NORTHEAST HEALTH NEWS

Wednesday August 7 2019

Biosignatures raises £3.5m to develop revolutionary diagnostic technology


The company has raised a £3.5m led by ADV to transform the lives of millions of people by diagnosing serious medical conditions earlier than ever before.



Biosignatures raises £3.5m to develop revolutionary diagnostic technology

The company has raised a £3.5m led by ADV to transform the lives of millions of people by diagnosing serious medical conditions earlier than ever before. Biosignatures discovers new blood tests. 

The company has developed a machine learning system which, alongside its powerful sample measurement system, is a disruptive and dramatically cost-effective step forward in the discovery of new clinical diagnostic tests. 25 years ago, GPs had just two blood tests they could use to see if a patient had cancer. Today, despite billions of pounds spent on medical research, they still only have those two tests. Biosignatures has solved the key problems in life science research that cause this dramatic lack of progress.

Using the investment, Biosignatures is embarking on a major journey that will, over several years, 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. The market for these tests starts at everyone 50 and over. Many companies and research groups are looking to deliver in this space. Billions have been spent in the process. What makes Biosignatures unique is the team’s understanding of why previous efforts failed - and the 10 years they have spent developing a machine learning and protein measurement technology that can deliver.

To bring the solution to mass market, Biosignatures is looking to engage strategically with the global healthcare ecosystem and is looking for backing from UK stakeholders. The company’s first product is a blood test for prostate cancer discovered with the UK’s NHS. In its first independently blinded validation trial it performed four times better than current clinical practice. This has a potential directly accessible market of a million tests a year. It also holds great promise for wider application as a screen for the disease. Biosignatures’ management team has a strong background in technology companies including having founded, built and sold Nonlinear Dynamics.

Dave Bramwell, co-founder and CTO of Biosignatures, said: “We have spent many years optimising and perfecting the large, high quality data set production capability needed for the successful application of our advanced AI discovery systems. This work gives us confidence that the biosignatures we discover will translate and validate in the clinic. Further, the modified proteins we measure have been implicated over recent years as critical in many disease processes from cancer to dementia. These two key elements combine into a unique capability which places us at the forefront of the production of new clinically relevant early diagnostics - identified as a critical need for healthcare systems worldwide.” 

Will Dracup, co-founder and CEO of Biosignatures, said: “It is safe to say that if Biosignatures can deliver on this vision - as we believe we can - it will be transformative for healthcare delivery world-wide. Vast amounts of money can be saved if an effective set of screening tests can be developed. We will literally be saving billions by saving millions.”

Mike Dimelow, Co-founder and CCO at ADV, said: “We’ve now invested more than £25m into health & wellbeing startups and have looked at hundreds more. Biosignatures is completely unique and has the potential to make a giant leap in diagnostic blood testing. This team is disrupting a trillion dollar industry and so competing with billion dollar companies. To truly fulfil this vision the team need the backing of the ecosystem and significant funding. We’ll do everything we can to back their ambition and we’re so excited to be involved.”

About Biosignatures
Biosignatures discovers new blood tests. Over 10 years, the company has developed a patented machine learning software technology which with the company’s powerful sample measurement system is a dramatically 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. In its first independently blinded validation trial it performed 4 times better than current clinical practice. It also holds great promise for wider application as a screen for the disease. 


About Accelerated Digital Ventures (ADV) ADV is a patient venture investment engine. Its team are entrepreneurs and operators who have learnt the hard lessons and want to pay them forward. Currently investing £150M, ADV takes the long view of business building, investing across the funding lifecycle of startups, scaleups and ‘scalebigs’. ADV champions the innovators - the people who build complex, technical, generation-defining businesses. ADV’s investors are British Business Bank, Legal & General and Woodford Investment Management. This investment was from ADV’s British Business Bank ECF fund.
 



"Biosignatures is completely unique and has the potential to make a giant leap in diagnostic blood testing."
Mike Dimelow, Co-founder and CCO at ADV








DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.






RECOMMENDED FOR YOU ON ENTIRELY NORTH EAST






















































Discover the latest Industry News & Opinions on Entirely