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Life sciences business Abcodia’s cancer screening test to get a boost, with a £5.25 million funding round from Scottish Equity Partners

UK venture capital firm, Scottish Equity Partners has co-led a 5.25 million pounds funding round for Abcodia, the life sciences business, which aims to bring ovarian cancer screening test to the market. Cambridge Innovation Capital has also co-led the deal, with backing from Albion Ventures and UCL Business. Glasgow-based Scottish Equity Partners closed its fourth fun in 2012 with commitments of 200 million pounds. SEP’s existing investors accounted for 80 per cent of the total raised. Around half of the fund was accounted for by UK-based investors, with the remaining 50 per cent sourced from investors based in Europe and the US. Abcodia uses a data-driven approach, underpinned by its unique biobank and strategic partnership Cancer Research UK. It has the potentially to enhance the biomarkers, which will help earlier diagnosis and improved patient outcomes. Its ovarian cancer screening test to hit the markets is called the ROCA test.

Tags:

Deal News,United Kingdom,Venture/Growth,Abcodia,cancer,growth capital,Scottish Equity Partners,venture capital,scottish equity partners,abcodia,Albion Ventures,UCL Business,ROCA test,Cambridge Innovation Capital

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