Dxcover and the EIC Accelerator: A Blood Test for Brain Tumours
Dxcover, a 2016 spin-out of the University of Strathclyde in Glasgow led by CEO and co-founder Matthew Baker, analyses blood serum with infrared spectroscopy and AI to detect cancer, starting with brain tumours. Its EIC award, from the October 2022 cut-off, was for "early detection of brain cancer through serum spectroscopy". In February 2023 Dxcover said it had received a grant of $2.7 million (£2.2 million) from the European Innovation Council alongside a $9.25 million Series A, to fund "a multi-center study for CE IVDR marking of the Dxcover Brain Cancer test", according to its announcement.
No project for Dxcover appears on CORDIS, the EU's register of funded projects, so there is no public EU report on what the grant produced. In March 2026 Dxcover announced that its liquid biopsy device had achieved CE marking under the EU in vitro diagnostics regulation as Class C software. A month earlier it made its UKCA-marked brain cancer test available to UK GPs and private specialists, citing a 99.3% negative predictive value, according to its announcement.
Company file
- Legal entity
- Dxcover Limited, SC535447, Glasgow
- CEO
- Matthew Baker, co-founder
- Technology
- ATR-FTIR infrared spectroscopy of serum with AI
- US operation
- Headquarters and laboratory in Tennessee, from 2025
- Investors
- Eos Advisory, Mercia, Scottish Enterprise, SIS Ventures, University of Strathclyde, Norcliffe, Maven, Macmillan Cancer Support
- Staff
- 27 average in 2025
- EIC funding
- Grant only
Where Dxcover Stands Now
Dxcover opened US operations in Tennessee in June 2025, where its laboratory offers the brain cancer test, with billing codes still to be determined, according to its US lab page. It presented data on multiple cancers at the AACR meeting in April 2026. Its 2025 accounts show net assets of £13.2 million and cash of £3.1 million, up from £8.7 million and £0.8 million a year earlier after a $6.2 million funding round, according to Companies House.
The record
From Strathclyde lab to a CE-marked brain cancer test
Dxcover received an EIC grant in early 2023 alongside a Series A. It opened a US lab in 2025, launched its test for UK GPs under a UKCA mark and won CE-IVDR certification in 2026.
- May 2016Company incorporatedUniversity of Strathclyde spin-out, later renamed from ClinSpec Dx
- Oct 2022EIC Accelerator cut-offDXCOVERgrant only
- Feb 2023Series A and EIC grant$9.25M equity plus $2.7M EIC grant$11.9M
- Feb 2025New funding roundEos, SIS Ventures, Maven, Macmillan$6.2M
- Jun 2025US operationsHeadquarters and laboratory in Tennessee
- Feb 2026UK GP accessUKCA-marked brain cancer test
- Mar 2026CE-IVDR Class CCertification of the platform
Dxcover press releases and Companies House.
"To date, blood-based detection of brain malignancies has been out of reach, with too many technical challenges for other technologies."
Matthew Baker, CEO and co-founder, Dxcover, February 2026The Technology: Infrared Light and AI
Brain tumours are usually diagnosed at a serious stage, and pressure on imaging delays many patients, Dxcover says. Dxcover places a tiny serum sample on an infrared spectrometer and its software reads the chemical fingerprint to flag signs of cancer, giving results within 24 hours. In the UK it is pitched as a triage tool to reassure patients or speed up imaging referrals.
The accounts
Dxcover net assets and cash at year end
Cash fell sharply in 2024 and was rebuilt in 2025 after the new funding round. Average staff rose from 22 to 27 over the three years.
Companies House, Dxcover Limited accounts 2024 and 2025. Values in £ millions.
What the EIC Award Promised, and What the Record Shows
The award promised earlier detection of brain cancer during the treatment window. Because no project is published on CORDIS, there is no EU report of milestones, budget or results. Dxcover's own announcements show the multi-centre study and CE certification it said the grant would support, achieved three years later. The link between the EIC money and those results is stated only by the company.
- CE-IVDR markingDeliveredMarch 2026.
- UK clinical availabilityDeliveredUKCA, February 2026.
- EU project reportingMissingNo CORDIS entry.
- Commercial uptakeUnverifiedNo volumes published.
The Money
Dxcover says it had raised $21.4 million in total by February 2025. Its accounts are filed under the small-company regime and do not publish revenue. Mercia Fund Management's nominee company ceased to be a director in September 2026, the register shows.
The money
Dxcover funding announcements in US dollars
The EIC grant was reported as $2.7M (£2.2M). Dxcover says it had raised $21.4M in total by February 2025.
Dxcover, February 2023 and February 2025. Values in US$ millions.
What Cannot Be Checked
Questions for the EIC
Why the award has no CORDIS record, how much was paid and for what milestones, how many tests Dxcover has sold, and what its revenue is are not public.
Why Europe Should Care
About 300,000 people a year are diagnosed with brain or central nervous system tumours worldwide, and five-year survival is about 33%, Dxcover says. A blood test for triage could shorten diagnosis. The EIC backed a UK company whose certified product is now in both European and US markets.
What the award promised
Earlier detection of brain cancer with a blood test, taken through the studies needed for CE marking.
What the record shows
CE-IVDR and UKCA marks, a US lab and new funding, with no EU project report and no sales data.
The Verdict
Certified, grant untraceable
Dxcover reached the regulatory milestones it said the EIC grant would support. The EU's own record says nothing about the award, and commercial success is still to be shown.
Dxcover and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.
Industry
HealthIn vitro diagnostics
- Focus
- Liquid biopsy
- Technologies
- Spectroscopy
- Artificial intelligence
- Keywords
- Brain cancer
- Cancer screening
- Early detection
- Oncology