Abingdon Health Ltd Raises Funds to Acquire 50.1% Stake in Diagnostics Company
3/27/2012 9:01:00 AM
U.K.-based diagnostics firm Abingdon Health received a £2 million (about $3.2 million) equity investment from Imperial Innovations Group, and another £1.02 million from private investors, to fund its acquisition of a 50.1% interest in Imperial’s portfolio company Molecular Vision. Imperial Innovations invests in technologies originating from Imperial College London, Cambridge University, Oxford University, and University College London. Following the investment round, Imperial Innovations will hold a 28.6% stake in Abingdon Health and retain a 36.4% stake in Molecular Vision. Abingdon says the £3 million fundraising will also allow it to invest in other projects, including portfolio companies established by Bioscience Ventures, a joint venture between Abingdon and the University of Birmingham.
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