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Glycotest is a private, market-driven liver diagnostics company commercializing new and unique blood tests for life threatening liver cancers and fibrosis-cirrhosis. Glycotest has exclusive, world-wide rights to over 50 patent-protected serum protein biomarkers, assay technology, and biomarker panels and algorithms. Glycotest’s lead product is its HCC panel—a biomarker panel, driven by a proprietary algorithm, for curable early-stage hepatocellular carcinoma (HCC), the most common form of primary liver cancer. This has outperformed current standard tests in preliminary clinical studies. Glycotest has also developed tests for liver fibrosis-cirrhosis and cholangiocarcinoma, the second most prevalent form of liver cancer.

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Glycotest was spun-out by AIM-listed NetScientific PLC, based on leading research and IP around liver cancer diagnostics from Drexel University, and Blumberg Institute, USA. NetScientific has continued to invest and retains 60%+ stake. In 2019, the Company closed a $10M Series A funding round from leading global pharma company Shanghai Fosun Pharmaceutical Co., Ltd. (“Fosun Pharma”). This milestone-based investment is in 4 tranches, with $7M already received, and a further $3M to be received as milestones are completed. On completion of all milestones, Fosun is expected to have c.40% equity interest in Glycotest.
Fosun has an exclusive license for the Chinese market to manufacture and sell the Company’s HCC Panel blood test, in exchange for a royalty agreement with Glycotest – providing potential recurring revenues at minimal costs. For the US market, a go to market channels already exist through the 20+ hospitals/liver care centres that participated in the clinical trial; and Fosun Pharma for the Chinese market.
As Glycotest enters the final stages of the test validation, the company is looking to expand its captable with private investment sources to accelerate development, reduce reliance on the traditionally slow-moving Corporate co-investments, prepare for market launch in the US, and explore EU market opportunities.

ProductNon Invasive Blood Tests
Aim of fundingDevelopment
HMRC Advanced Assurance receivedNo
Envisaged investor exit4-5 years
Targeted return4x