52North, a University of Cambridge spin-out developing the Aster biomarker platform and Neutrocheck rapid blood test, has raised £3.2 million in new funding. The round is co-led by Macmillan Ventures, the venture investment arm of Macmillan Cancer Support, and Hargreave Hale AIM VCT, alongside existing investors Cedars Sinai Intellectual Property Company, Cancer Research Horizons, the University of Cambridge and OKG Capital, and includes a grant from Innovate UK's Investor Partnerships programme.
Neutrocheck is a rapid finger-prick blood test designed to enable remote triaging of chemotherapy patients who may be at risk of neutropenic sepsis, a life-threatening complication. Neutropenic sepsis currently drives tens of thousands of emergency hospital visits each year, even though research suggests that around two in five of these visits could be false alarms. By enabling faster risk assessment closer to home, Neutrocheck aims to help take pressure off emergency hospital wards and reduce anxiety caused by unnecessary hospital visits for people living with cancer.
At the core of 52North is the Aster platform, a proprietary biomarker detection technology designed to move critical diagnostic insight out of the hospital and into the hands of patients and their care teams. Neutrocheck represents the first application of the Aster platform, demonstrating its potential to support earlier intervention, improve decision-making and help reduce pressure on emergency services.
The funding will support clinical validation of Neutrocheck, progression through regulatory milestones and preparations for introduction to the United Kingdom market. The latest financing brings total equity funding raised by 52North to more than £7.5 million. Hargreave Hale AIM VCT joins as a new investor with a £1.0 million commitment, representing the largest investment from a new investor in 52North's history.
This round is another powerful vote of confidence in our platform and the team behind it, and our focus on delivering practical and innovative solutions to address major and meaningful gaps in healthcare. To have Macmillan lead its first ever deal, and to welcome Hargreave Hale with the largest commitment from a new investor to date, tells us the mission to transform urgent cancer care is one that our partners share. The investment will enable us to advance clinical validation, progress regulatory milestones and prepare Neutrocheck® for market launch, bringing us closer to a future where patients can access faster, more convenient and more personalised urgent cancer care.
52North's platform is exactly the kind of innovation Macmillan Ventures was created to back – a technology that has the very real potential to spare people going through cancer treatment the anxiety of avoidable emergency hospital admissions and give them a greater sense of confidence and control during their treatment. This is the first investment we have led, and we are proud to do so alongside partners who share our commitment to turning the most promising cancer care innovations of today, into better cancer care for tomorrow.
52North combines a differentiated diagnostics platform with a clear pathway to addressing a costly and clinically important problem in cancer care. Neutrocheck® has the potential to enable faster risk stratification for patients receiving chemotherapy, improving outcomes while easing pressure on healthcare systems. We believe the company is at an important point in its development, and we are delighted to join a strong syndicate of healthcare investors and strategic partners in supporting its next stage of growth.
