Abcodia, a London, UK-based developer of a sensitive and specific ovarian cancer screening test, raised £5.25m in funding.
The round was co-led by Cambridge Innovation Capital (CIC) and Scottish Equity Partners (SEP), with participation from existing investors Albion Ventures and UCL Business. In conjunction with the funding, Dr Robert Tansley, from CIC and Jan Rutherford, from SEP joined Abcodia’s Board.
The company intends to use the funds to build operations and commercial teams in the UK and establish a US presence while continuing to grow the product pipeline focused on improving early cancer diagnosis. Abcodia aims to launch its ROCA® test in the UK this summer and US markets later in 2015.
Led by Dr Julie Barnes, CEO, Abcodia develops tests for the early detection of cancer. The company’s first product to reach the market in 2015 will be the ROCA® test, to which Abcodia has an exclusive license for the early detection of ovarian cancer. In addition and in co-operation with University College London, it is leading technology developments in disease lifecycle utilizing a large serum biobank and clinical database to evaluate potential tests for the early detection of disease, including all major cancers.