A La Trobe University biotech spin out developing cancer diagnostic tools has raised $5 million.
The round for AlleSense was led by existing investor Welcome Ventures, with Breakthrough Victoria – soon to be merged with LaunchVic – tipping in $1 million, and the AEA Innovate grant program contributing $2.5m.
Julian Sutton from Welcome, a special purpose vehicle with a focus on medical research commercialisation, is the CEO of AlleSense, and also a director of ASX-listed 4DMedical.
Founded in 2020 by La Trobe researchers Professor Brian Abbey and Dr Eugeniu Balaur, AlleSense previously raised a $2.5m Seed round in 2023. La Trobe is also an investor.
The biotech startup is developing pathology imaging technology that can work with existing optical microscopes and potentially improve early cancer detection.
La Trobe University-led research created a world-first nanofabricated microscope slide, named the NanoMslide, which uses colour contrast and is chemical-free, to identify abnormal cells in a suspect sample. A special coating turns the slide it into a miniature chemistry lab, reducing time and removing dyes from the process.
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Prof Abbey said it’s a faster, more accurate diagnosis for conditions such as breast, skin, and colorectal cancer.
“With support from Breakthrough Victoria and the Australian Economic Accelerator, AlleSense aims to make abnormal cells easier to detect without changing existing pathology workflows,” he said.
“By improving visual contrast in routine tissue samples, the platform has the potential to increase diagnostic concordance, strengthen clinical confidence, and improve the detection of early-stage cancers.”
Breakthrough Victoria CEO Rod Bristow said its investment backs Victorian innovation with global impact.
“AlleSense’s technology has the potential to transform cancer diagnostics and strengthen Victoria’s position as a leader in health and life sciences,” he said.
In 2022, the NanoMslide won the Eureka Prize for the Innovative Use of Technology.
