Medical and Scientific: Cancer test scores $4m for biotech

15 Jan 2021 - Medical and Scientific

Early-stage biotech BCAL Diagnostics has closed a $4 million pre-IPO capital raise led by Citadel Group’s Mark McConnell, which will fund clinical trials for a breakthrough low-cost breast cancer detection blood test. The funding round for BCAL comes after more than a decade of work, as well as personal investment, which has led to the commencement of a phase-one clinical trial. In conjunction with scientists in the US, BCAL has identified a panel of 18 biomarkers, which in theory indicates whether a person has breast cancer based on changes to their lipids. Starting at the Royal Prince Alfred Hospital, the Chris O’Brien Lifehouse Hospital and BreastScreen NSW in March, the first trial will involve consenting women receiving mammograms also undergoing the BCAL blood test.

Australian Financial Review; 15/01/2021; Page 26​