Imperial Innovations leads £3m funding round in Abingdon Health

Innovations has invested £2m in this round. Following the investment, Innovations will hold a 28.6% stake in Abingdon Health and will retain a 36.4% stake in Molecular Vision.

Abingdon Health will use the funds to invest in and take a controlling 50.1% interest in Innovations portfolio company, Molecular Vision, as well as investing in other projects in its portfolio including those from its joint venture with the University of Birmingham, Bioscience Ventures Ltd.

Company
Oxford-based Abingdon Health commercialises a portfolio of novel clinical diagnostics technologies.

Molecular Vision is developing disposable diagnostic devices for medical testing. These devices have the potential to be used across a wide spectrum of healthcare and other applications where simple, on-site analysis is required.

Abingdon Health intends to accelerate development of Molecular Vision's technology by bringing complementary capabilities from other companies in its portfolio together with Molecular Vision's platform.

People
Abingdon is founded and led Chris Hand. He is also interim CEO of Molecular Vision. Rebecca Todd, director of healthcare ventures at Imperial Innovations, will take a place on the board of Abingdon Health.

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• Topics
• Early-stage
• UK / Ireland
• Healthcare
• United Kingdom