Date: 2015-05-18
Type of information: Financing round
Company: Abcodia (UK)
Investors: Cambridge Innovation Capital (CIC) (UK) Scottish Equity Partners (SEP) (UK) Albion Ventures (UK) UCL Business (UK)
Amount: £5.25 million
Funding type: financing round
Planned used: The funding will allow Abcodia to launch the ROCA® test in the UK this summer and US markets later in 2015. The ROCA® test is the first cancer screening test that Abcodia is bringing to market. The ROCA® test’s performance was reaffirmed in a study from the UKCTOCS trial at UCL, published in the Journal of Clinical Oncology.This latest study from University College London highlights that the use of ROCA® accurately detected 86% of women with ovarian cancer and ruled out almost 100% of women who were cancer free. The test is twice as effective in identifying cancers than the traditional method of simply measuring CA-125 levels where clinicians consider values above 35 unit per ml to be worrisome. The study also report that women with ovarian cancer who were detected through ROCA screening, had levels that were below this clinically used cut-off, and 49% of such cases being stage I or II. Abcodia now awaits the complete survival and mortality results are expected to be available later in 2015.
Others: * On May 18, 2015, Abcodia announced that it has raised £5.25 million funding from existing and new investors to bring the world’s most sensitive and specific ovarian cancer screening test, ROCA® to market. The financing was co-led by Cambridge Innovation Capital (CIC) and Scottish Equity Partners (SEP), who join existing investors Albion Ventures and UCL Business. Dr Robert Tansley, from CIC and Jan Rutherford, from SEP have been appointed to Abcodia’s Board.
Therapeutic area: Diagnostic - Cancer - Oncology
