Upfront Diagnostics in raises $4.3m raise for LVOne, the simplest stroke test yet

Upfront Diagnostics has raised $4.3million to accelerate the commercialisation of its revolutionary stroke blood test, LVOne, in the UK and to expand into new markets.

The funding round for the Cambridge-based pioneering medical technology company was led by Phoenix Investments, with participation from Cambridge Enterprise Ventures.

SBRI Healthcare also participated with an unspecified non-dilutive funding contribution.

LVOne is a proprietary groundbreaking fingerstick blood test designed to diagnose strokes rapidly and accurately anywhere. It measures two biomarkers, GFAP and D-dimer, in just a few minutes.

The test has the potential to significantly improve patient outcomes by enabling faster treatment decisions and reducing the risk of long-term disability.

“The LVOne is a test to be used by ambulance paramedics,” Gonzalo Ladreda, Upfront Diagnostics co-founder and CEO, told the Cambridge Independent, adding that the funding “will enable us to bring LVOne to market and make a real difference in the lives of stroke patients”.

The test can be carried in the pocket, and can tell you anytime, anywhere, the type of stroke that a patient is suffering.

The device has the potential to significantly improve patient outcomes by enabling faster treatment decisions and reducing the risk of long-term disability.

Dublin-based lead investor Phoenix Investments works across a range of sectors which help our businesses develop and deliver bespoke solutions which have a positive environmental impact.

The company’s chairman and founder, Karl Hick, was also a co-founder of Upfront Diagnostics, which was founded as Pockit in 2017 by a group of Cambridge students.

Dr Tito Bacarese, chairman and co-founder of Upfront Diagnostics, said: “We are grateful to have the backing of a prestigious group like Phoenix Investments, whose support will enable Upfront to impact thousands of lives.”

He added of the team based at Allia’s Future Business Centre: “The perseverance and innovative spirit demonstrated by Upfront’s team have been instrumental in securing this funding.

“This achievement is a testament to their unwavering dedication to revolutionising the diagnostics landscape by providing elegant solutions for complex conditions.”

The Upfront team, who are Accelerate Cambridge alumni, received their first funding from Cambridge Enterprise in 2019.

The company had raised £2.5m until the new investment, which enables the team to initiate commercialisation of the LVOne in the UK and Europe, support regulatory approval processes in the US, and expand the company’s R&D capabilities.

“This funding round is a significant milestone for Upfront,” Gonzalo concluded.

“It will enable us to bring LVOne to market and make a real difference in the lives of stroke patients.

“We are grateful for the support of our investors and partners, and we look forward to continuing our mission to improve stroke diagnosis and treatment.”