SEP invests in Abcodia
Scottish Equity Partners (SEP) and Cambridge Innovation Capital have co-led a £5.25 million investment in Abcodia. The company develops biomarkers for the early detection of cancer and funding will bring the world’s most sensitive and specific ovarian cancer screening test, ROCA® to market.
Dr Julie Barnes, Abcodia’s CEO, commented:
“The funding will allow Abcodia to launch ROCA® in the UK this summer and US markets later in 2015. We feel passionately that ROCA® will make a real difference in the lives of women at risk of developing this aggressive form of cancer. The funding will help build operations and commercial teams in the UK and establish our US presence while continuing to grow our product pipeline focused on improving early cancer diagnosis.”
Jan Rutherford, partner at SEP, who joins the Abcodia board said: “Abcodia is one of the most exciting businesses involved in the early detection of cancer. Its novel data driven approach, underpinned by its unique biobank and its strategic partnership with Cancer Research UK, has the potential to materially enhance the way biomarkers are developed, allowing earlier disease diagnosis and improved patient outcomes.”