The grants were awarded through the organization's Diagnostic Accelerator, a partnership between the charity and various philanthropic partners.
The financing, led by Accelerated Digital Ventures, will go toward the development of 20 tests targeted at cancers and dementias.
With funding from Bill Gates and others, the Diagnostics Accelerator aims to support the development of new biomarkers for the early detection of Alzheimer's.
The partners will develop an amyloid β 42/40 ratio assay to identify patients who may benefit from treatment with Janssen's drug called atabecestat.
In a study, the researchers used patients' blood plasma and infrared spectroscopy to diagnose dementias, and differentiate different forms of the condition from each other.