BCAL Diagnostics Limited (ASX: BDX), an Australia-based biotechnology company founded in 2010 and headquartered in Sydney, develops and commercializes non-invasive blood tests for early breast cancer detection and monitoring; its flagship product, BREASTEST plus, is a laboratory-developed test that measures a panel of seven lipids in blood plasma via Liquid Chromatography Mass Spectrometry (LC-MS/MS) to generate a proprietary diagnostic score, serving as a rule-out tool used alongside mammography, particularly for women over 30 with dense breasts where imaging is inconclusive. The company operates NATA-accredited clinical laboratories in Sydney, Australia, for commercial testing and research, and maintains a research and development facility in Raleigh, North Carolina, USA, opened in September 2024 to accelerate US product validation, clinical studies, and physician collaborations in states including Michigan and Illinois. BCAL Diagnostics targets healthcare professionals and women globally, focusing on complementing standard screening to improve diagnostic accuracy and accessibility across diverse demographics. In recent developments, the company raised AUD 5 million in the first tranche and announced a private placement of AUD 10 million in convertible notes in October 2025, subject to shareholder approval and issuance by late November, to fund commercialization and growth; it expanded US operations in 2024 and entered a licensing agreement with ClearNote Health Inc. in September 2025 to further advance its diagnostic portfolio.