Dxcover, a clinical-stage diagnostics company focused on detecting cancers, has received $6.2 million to drive innovation and expand its commercial presence.

The investment round brings total funding raised by Glasgow-based Dxcover to $21.4M since spinning out from the University of Strathclyde in 2019.

It was led by existing investors Eos Advisory, alongside SIS Ventures, University of Strathclyde, and Norcliffe Capital. The Investment Fund for Scotland managed by Maven Capital Partners and delivered by the British Business Bank came in for the first time.

Dxcover, which incorporated in the US in 2024, will establish its US headquarters in Nashville, Tennessee, to serve the US market.

Professor Matthew J Baker, co-founder, CEO and president of Dxcover, said: “This round of investment will further advance our mission to transform cancer diagnostics. It will accelerate our expansion into the United States and drive commercialisation and translation in the UK & EU.”

Andrew McNeill, managing partner, Eos, said Dxcover’s technology is aligned with Eos’s approach to investing in innovation.

Co-founders Dr David Palmer and Dr Holly Butler will assume the roles of chief scientific officer and chief technical officer, respectively. Dr David Eustace will take on the role of general manager, assuming operational responsibility for UK and US sites.

Julie Nixon, managing associate of TLT which provided legal advice, said: “The life sciences sector is one of the largest and most innovative in the world.

“It was a pleasure to support the business in this round of funding that will not only support it establish its presence in the US, but also contribute to fighting cancer across the globe.”