Investment Update: AlleSense

AlleSense is a Victorian-founded health technology company developing next-generation diagnostic tools that could transform cancer detection worldwide. A spin‑out from La Trobe University, the company exemplifies the commercialisation of world‑class Victorian research into scalable health innovation.

At the core of AlleSense’s platform is NanoMslide, a nanofabricated microscope slide designed to enable faster, more accurate cancer diagnosis while integrating seamlessly into existing clinical environments.

Breakthrough Victoria has invested $1 million in AlleSense, joining existing investor Welcome Ventures, who led this round.

The problem

Traditional pathology workflows rely on chemical staining, multiple processing steps, specialised reagents and equipment. These processes introduce variability, complexity, cost and delays, which can affect diagnostic consistency and clinical decision-making.

For cancers that are difficult to diagnose at the earliest stage, these issues can be particularly significant, affecting the accuracy of detection and treatment.

The solution

AlleSense’s NanoMslide is a chemical‑free, label‑free imaging technology that detects cancer by manipulating the interaction of light with tissue at the nanoscale.

By eliminating the need for traditional staining, NanoMslide:

• Works with any existing optical microscope

• Produces consistent, high‑quality imaging results at scale

• Enhances the visibility of abnormal cells

• Strengthens digital pathology workflows

This approach reduces diagnostic delays while improving accuracy and reliability, enabling faster and more confident clinical decision‑making.

The benefit to Victoria

Breakthrough Victoria’s $1 million investment will support the clinical validation of a homegrown cancer diagnostic technology while delivering clear economic and health benefits for the state.

The investment will:

• Create eight new high‑skilled jobs in Victoria

• Support the translation of Victorian research into globally competitive health technology

• Strengthen Victoria’s leadership in precision medicine and advanced diagnostics

AlleSense’s technology has the potential to improve early cancer detection outcomes, reduce pressure on pathology services, and position Victoria as a centre for innovation in next‑generation medical diagnostics.

Breakthrough Victoria’s role

This investment aligns with Breakthrough Victoria’s mission to commercialise local research, grow Victoria’s innovation economy, and deliver tangible public benefit, particularly in areas of high impact such as health and life sciences.

It also supports Victoria’s broader strategy to build sovereign capability in advanced diagnostics and precision medicine, ensuring critical health technologies are developed, validated and scaled locally.

With 91 investment commitments totalling more than $496 million, and $1.49 billion crowded in, Breakthrough Victoria is one of Australia’s most active early‑stage technology investors. An independent EY‑Parthenon report found BV’s portfolio is on track to generate $5.3 billion in economic impact for Victoria by 2035.