Osler to obtain $38m

Osler Diagnostics, a UK-based handheld diagnostic device developer based on University of Oxford and Sao Paulo State University in Brazil research, is raising £30m ($38m) in funding, Sky News has reported.
The round is reportedly being led by an unspecified venturing vehicle owned by Michael Spencer, founder of electronic markets business Nex Group, and no other investors were mentioned in the report.
Founded in 2016 as Oxford Impedance Diagnostics, Osler Diagnostics is working on a handheld diagnostic device that tests patients for cancers as well as cardiovascular and neurological diseases, by scanning for biomarkers from a drop of blood.
Osler’s test works by quantifying the specific antibodies, proteins and other biomarkers present within a given blood sample, by identifying the sample’s associated impedance and capacitance signals.
The device would function without external laboratory testing and is designed to be highly accessible to suit applications in the developing world, assisting with the mitigation of epidemics on the lines of diseases ebola or zika.
The company’s system advances work by researchers including Jason Davis, a professor in University of Oxford’s Department of Chemistry, whose focus includes functional molecular interfaces and nanoparticles in molecular imaging.
Osler had previously received $2.6m of funding in a 2016 round backed by Oxford Sciences Innovation and life science products supplier Bio-Rad Laboratories as well as the third-party Oxford Technology Investment Fund and unnamed business angels.