A Newcastle technology company has secured £2m in investment to accelerate the commercialisation of work that aims to detect diseases at earlier stages.
InvenireX, which builds on Dr Dan Todd’s PhD research at Newcastle University, has secured the funding from DSW Ventures, with participation from XTX Ventures, Cambridge Technology Capital and angel investors, plus grant funding from Innovate Ƶ.
The company aims to address limitations in the science of molecular detection. InvenireX’s platform uses programmable DNA nanostructures to capture specific genetic markers inside custom microfluidic chips.
AI is then used to detection disease markers at concentrations existing methods cannot capture. In pilot testing, InvenireX has demonstrated greater sensitivity than existing methods, while also reducing time and cost for tests.
Dr Todd said: “Our machine could pick up cancer, HIV or sepsis earlier - any disease with a nucleic acid trace.
“We’re made of DNA - that’s the source code. If you can pick up traces of faults and errors in that code, you can detect problems across the board before symptoms appear. We’ve built the ultimate needle-in-a-haystack detector, a tool that we can put in the hands of scientists to enable the discoveries of tomorrow.”
Jonathan O’Halloran, founder of Newcastle biotech company QuantuMDx, has become an angel investor in InvenireX.
He said: “There are moments in your life that make you tingle. The first one for me was watching Craig Venter announce the first draft of the human genome, then next was hearing about Solexa, then Oxford Nanopore’s DNA sequencing technologies.
“Most recently, it was listening to Dan Todd describe InvenireX’s technology. I believe it’s the Ƶ’s next big technology.”
InvenireX has completed a successful pilot with a diagnostics company that has committed to purchasing its first instrument, with further pilots underway in vaccine manufacturing and infectious disease diagnostics.
The company’s current investment round will support team growth and expanded pilot programmes.
Doug Quinn, partner at DSW Ventures, said: “Having invested in InvenireX in early 2024, we’ve already seen the incredible work its technology can do. Now, to help build out the team and validate the commercial opportunity, we’re thrilled to be continuing our partnership with the InvenireX team, leading another investment round to bring this vital technology one step closer to market.
“It’s this access to venture capital that’s so important to bringing entrepreneurs’ bold and innovative ideas to fruition, and we’re delighted to have the support of XTX Ventures and Cambridge Technology Capital as Dan and his team continue on this journey.”
Dr Wei Chen, Head of Investment at Cambridge Technology Capital, said: “Cambridge Technology Capital is delighted to back Newcastle-based InvenireX, whose fast, amplification-free, single-molecule detection provides a truly differentiated foundation for molecular testing. We look for true entrepreneurs – founders with bold ideas and the drive to execute, iterate, and refine until they reach what works best.
“The InvenireX team exemplifies this spirit, pairing deep scientific innovation with the entrepreneurial agility needed to build a global platform. Leveraging our cross-border network, we’ll help them pilot and scale up, supporting the progression from RUO deployments toward regulated diagnostics. We’re also pleased to invest alongside DSW and XTX Ventures as InvenireX advances toward worldwide impact.”
