A British startup developing a handheld blood test device to rapidly diagnose strokes has secured £1.6m in seed funding.
Upfront Diagnostics is developing a device that it says can identify biomarkers that indicate a patient is having a large vessel occlusion (LVO) stroke in less than 15 minutes, just from taking a small blood sample.
The healthcare company says this saves more than one and a half hours over the current diagnosis methods, which involve physical tests and taking brain scans. Patients can then be taken more rapidly to a medical centre for treatment, reducing the risk of death or disability.
The seed funding round was led by the medical fund of Apex Ventures, a deep tech-focused VC firm.
The Cambridge-based startup has also received grant funding from SBRI Healthcare in partnership with the Stroke Association.
The device, which resembles a Covid test and is called the “LVOne”, has been validated on 270 patients at the Royal Infirmary Hospital in Newcastle. However, it has not yet received clinical approval. Upfront Diagnostics said it will use the proceeds of the raise to scale the technology and meet regulatory requirements.
Assuming no setbacks, Upfront Diagnostics said it aims to receive a UK Conformity Assessed checkmark – which signifies it meets British legislation – “before the end of 2023” a company spokesperson told UKTN. It hopes to gain CE marking – the EU equivalent – by mid-2025.
The startup, formerly known as Pockit, was founded in 2017 by a group of Cambridge students. It currently has five employees. Its most recent Companies House filings from 2021 show it has net assets and liabilities of minus £59,887. However, a company spokesperson said is 2022 accounts “should be available soon”.
It has received £75,000 in support from Cambridge Enterprise, an arm of the University of Cambridge that helps academics commercialise their ideas.
Gonzalo Ladreda, co-founder of Upfront Diagnostics, said: “With this significant funding, we are poised to transform stroke diagnosis worldwide and make a tangible impact on patient care.
“Our rapid blood test has the potential to revolutionise stroke management by providing paramedics and physicians with actionable insights in a matter of minutes, enabling them to make informed treatment decisions swiftly.”
The company is focusing its efforts on early stroke diagnosis, which it says could result in a 20% reduction in disabilities from LVO strokes.
There is a six-hour optimal window for doctors to manually remove large clots from the brain to treat strokes. Upfront Diagnostics says its handheld device can increase the rate of patients who are treated in this time frame.
A company spokesperson told UKTN that its technology could potentially be applicable to concussions or Alzheimers.
“The impact on the healthcare workforce, the social care system and the broader economic benefits of this solution will also be felt,” said Dr Pooja Sikka, general practitioner in the UK and venture partner at APEX Ventures Medical Fund.
“Stroke is a preventable disease, but growing. We need better diagnostics and optimised care pathways. Effective point-of-care testing is fundamental to achieving that.”