- Universal DX is a Spanish startup developing cutting-edge blood-based liquid biopsy solutions for the early detection of cancer.
- The financing is part of the support the EIB is providing to European MedTech startups developing innovative medical solutions and contributes to the EIB Group strategic priority of accelerating digitalisation and technological innovation.
- The operation is supported by InvestEU, an EU programme that aims to unlock over €372 billion in investment by 2027.
The European Investment Bank (EIB) has signed a €20 million loan with Spain company Universal DX to support development and commercialization of cutting-edge blood-based liquid biopsy solutions for the early detection of cancer. The survival rate of certain cancers such as colorectal cancer, can increase significantly if detected at an early stage.
The EIB financing will support the expansion of Universal Dx’s most advanced product, Signal-C® for Colorectal Cancer Screening and the development of other pipeline products: Signal-Li and Signal-Lu for Liver and Lung cancer respectively. The loan will also support Universal DX international expansion plan, including advancing a large clinical trial in the US for FDA approval and reimbursement.
The Sevilla-based startup is a MedTech pioneer. Their technology is based on a proprietary, innovative platform encompassing a Next-Generation-Sequencing Assay, measuring Universal DX proprietary methylation, fragmentation, and microbiome biomarkers, and detecting the signal of the biomarker panel patterns with state-of-the-art Machine Learning-based bioinformatic solutions and algorithms.
“We are delighted to join forces with Universal DX to advance the fight against cancer and more specifically the early detection of the illness to improve survival rate. This financing agreement is one more example of how the EIB is helping innovative European startups developing breakthrough medical solutions and supporting the European MedTech industry,” said EIB Director of Equity, Growth Capital and Project Finance Alessandro Izzo.
The EIB loan is guaranteed by InvestEU, the flagship EU programme to mobilize over €372 billion of additional public and private sector investment to support EU policy goals from 2021 to 2027. The project contributes to Europe’s Beating Cancer Plan and the EIB Group strategic priority of accelerating digitalisation and technological innovation.
“Our mission is to create a future where cancer is curable. With the transformative power of our technology, we are taking bold steps to turn this vision into reality. We are deeply inspired by the support of the EIB, which will enable us to contribute to the European Plan to Fight Cancer and to bring our revolutionary blood tests for early cancer detection to both European and U.S. markets.” said Juan Martinez-Barea, Founder and Chairman of Universal DX.
The investments associated to the project will generate cutting edge scientific knowledge and retaining European scientific acumen. The project will also contribute to Europe’s competitiveness boosting the innovative capacity of European based life science industries and businesses.
Background information
EIB
The ElB is the long-term lending institution of the European Union, owned by the Member States. Built around eight core priorities, it finances investments that pursue EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund, signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
All projects financed by the EIB Group are in line with the Paris Agreement, as pledged in the group’s Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects that contribute directly to climate change mitigation and adaptation, and a healthier environment.
In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024, helping power the country’s green and digital transition and promote economic growth, competitiveness and better services for inhabitants.
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InvestEU
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.”
UniversalDX
Universal DX is a biotech company headquartered in Spain with its US office in Dallas (Texas). Its mission is to transform cancer into a curable disease by detecting it early. Utilizing multi-omics, computational biology, and AI tools, UDX is deciphering the unique cfDNA sequences that capture cancer’s earliest signals. UDX’s most advanced assay is for colorectal cancer screening with high accuracy for pre-cancer and cancers. The company’s technology can also be applied to other high-burden cancers. UDX has presented data on lung, pancreatic, liver, and esophageal cancers.
In November 2023, Universal DX announced a collaboration with Quest Diagnostics, a leading provider of diagnostic services, designating Quest’s oncology center of excellence in Lewisville, TX, as the sole trial testing site for its study supporting Signal-C® in the US. Assuming FDA approval for the test, Quest will provide clinical laboratory services in the U.S., with UDX delivering assay results via its cloud platform. If approved, both parties can commercialize the test.
