Johnathan Matlock’s Post

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Co-Founder @ Empirical Ventures | Scientist | Entrepreneur | Investor | PhD Chemistry

In vitro diagnostics for early cancer detection has often been a graveyard for investors. Investors are attracted by the undoubtedly huge market potential. If a company can develop a diagnostic test that is implemented as a population level screening tool, this is the definition of a venture scale opportunity. However, multiple factors are at play that make the journey far from easy. You need a highly sensitive and specific test that allows you to minimise false positives and false negatives. This is because the burden of over diagnosis and over treatment against a change in overall mortality rates is a finely tuned balancing act. You'd also want to ensure that the screening tool was applicable to multi-cancer detection, going further than just a rule-out test, by predicting the origin site of a particular cancer. As a pre-seed/seed investor what we are often looking for is deep scientific domain expertise, coupled with credibility to achieve a proof-of-concept data point and/or prototypes. Our latest investment at Empirical Ventures into Xgenera and the dynamic duo Dr Andy Shapanis and Prof Paul Skipp might just be the right starting point for approaching this opportunity. Their multi cancer early detection test (MCED) called miONCO was developed from analysing relative expression profiles of microRNAs in 20,000 patient samples. Xgenera’s two step test would detect cancer using a computational algorithm to identify microRNA profiles extracted from patient blood samples, and can predict the site of origin of the cancer. As a screening test this could improve patient lives significantly. I believe Xgenera has the right technology, at the right time, based around recent advances in computational speed and power, post-COVID knowledge moats related to qPCR scale-up and novel biomarkers such as microRNAs to capitalise on this potential. Read more about it below. I can't wait to join the board to support the team as they navigate the 0 to 1 phase of this journey. CAPITAL AT RISK. FOR PROFESSIONAL INVESTORS ONLY. https://lnkd.in/dNpuSERg

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If you want to implement a scalable multi-cancer early detection test, what does that test need to look like and why hasn't this panacea of cancer intervention already happened? Our latest investment into Xgenera who have raised £3.5m from Empirical Ventures, Ascension and lead investor QantX might just have the answer. With a £2.5m grant from NIHR (National Institute for Health and Care Research), CEO Dr Andy Shapanis and CSO Prof Paul Skipp are the next entrepreneurial scientists we are backing at EV. Xgenera have a very promising multi cancer early detection test (MCED) called miONCO that was developed from analysing relative expression profiles of 50 microRNAs in 20,000 patient samples. Xgenera’s two step test would detect cancer using a computational algorithm to identify microRNA profiles extracted from patient blood samples, and then predict the site of origin of the cancer. As a screening test this could improve patient lives significantly. Xgenera's miONCO test satisfies the high level requirements for an MCED - it can diagnose multiple cancers (12) and based on miRNA markers it can detect signals earlier in the cancer stages compared to next-generation sequencing based approaches. The test will be developed into a qPCR format in partnership with YouSeq and can be administered via blood draws. CAPITAL AT RISK. FOR PROFESSIONAL INVESTORS ONLY. https://lnkd.in/dnWqFxYH Thank you to EV team members: Madeleine Nichols, PhD, Dr Ben Miles, Ph.D., Johnathan Matlock, Curran Kalha, Ph.D., Trang K. Nguyen, Alexander Fink and Keith Lipman Thank you to Jane Theaker who made the introduction to Dr Andy Shapanis. Thank you to our IP partner Abel + Imray and Tom Turner.

Xgenera raises £3.5m to develop novel multi-cancer early detection test — Empirical Ventures

Xgenera raises £3.5m to develop novel multi-cancer early detection test — Empirical Ventures

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Wesley Sukdao

CEO @ Proteotype | Dad | On a Mission

3mo

Well done Dr Andy Shapanis and team!

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