OxDX raises funds for the development of rapid diagnostic technology
Oxford University spin-off company OxDX has raised £2.6m in pre-seed funding for the development of artificial intelligence (AI)-powered rapid diagnostics technology.
Ahren Innovation Capital and IQ Capital co-led the seed funding, which also saw participation from Science Creates Ventures.
OxDX intends to use the funds to expand its team and work with development partners to further validate the technology.
The company’s rapid diagnostic technology can detect and recognize specific species and strains of bacteria, viruses and other pathogens in a sample.
It combines new universal labeling technology and machine learning analysis in a neural network to identify specific pathogens causing infection in just seconds.
The company said the technology aims to improve the cost, speed and accuracy of diagnosing infectious diseases.
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OxDX CEO Alex Batchelor said: “Our ability to take a sample from someone with an unknown infection and answer the open question ‘what does she have?’ in a minute is a game-changer for the diagnosis and treatment of infections.
“We will start with respiratory viruses and expand from there. At the same time, we will simplify the workflow to move testing from the lab to point-of-care, which will represent a step change in the availability and cost of infectious disease diagnostics globally.
The company said the technology can detect respiratory viruses in clinical samples, as well as directly identify the strain in the case of Covid-19 and influenza viruses.
OxDX aims to develop a new analytics platform that can rapidly scale many diseases through software updates.