ClinSpec Dx secures £2.4m in funding

Author

Scottish Investment Bank

10 September 2020

Scotland-based early cancer detection company ClinSpec Dx has raised £2.4m in funding.

Led by Mercia’s EIS Funds with Scottish Investment Bank, SIS Ventures, EoS Advisory and the University of Strathclyde, the funds will help the company progress its multi-cancer development program.

ClinSpec Dx also plans to hire five employees for its scientific and operations teams, which would increase its team to fourteen members.

The business is led by CEO Mark Hegarty and it’s a spinout from the Department of Pure and Applied Chemistry at the University of Strathclyde.

To date ClinSpec Dx has raised £4 million. It’s first round of seed funding took place in 2019 and was led by EoS Advisory alongside Mercia’s EIS Funds and the Scottish Investment Bank’s Co-Investment Fund. It also included grant funding from the Higgs EDGE Special Award, and from Innovate UK through the precision medicine accelerator fund.

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