CATALYSIS CAPITAL PARTNERS is pleased to announce that it acted as the exclusive financial advisor to Molecular Vision Ltd. on the sale of a controlling equity stake to Abingdon Health Ltd. Financial terms were not disclosed.
Molecular Vision (London, United Kingdom) is developing a low-cost, lab-quality, POC diagnostic test called BioLED. BioLED is a miniaturized, easy-to-use, disposable device that can simultaneously test for multiple disease markers using numerous single methods in the same device. Currently focused on areas of high disease burden such as kidney function or cardiovascular disease, the device has the potential to be used across a wide spectrum of healthcare and other applications where disposable, quantitative, simple to use on-site analysis is required. For more information, visit www.molecularvision.co.uk
Abingdon Health (Birmingham, United Kingdom), is a specialist medical diagnostics company founded in 2008 by CEO Chris Hand, Chris Yates and Dr. Brett Pollard. In November 2010, Abingdon launched Bioscience Ventures Limited in a joint venture with the University of Birmingham, to commercialize intellectual property developed at the University. Bioscience Ventures is developing new diagnostic tools for conditions where there is currently unmet need in markets such as oncology, genetic diseases and platform technologies with applications in many areas including infectious diseases, drug testing and veterinary. The portfolio currently consists of Serascience Ltd – developing fast, accurate point of care tests to aid the diagnosis of myeloma and related conditions; Linear Diagnostics Ltd – focused on the development of a platform technology based on linear dichroism which is currently being applied to the multiplexed detection of infectious disease agents in sepsis; and Alta Bioscience Ltd – manufacturing and selling specialty chemicals such as peptides and oligonucleotides and performs amino-acid analysis and protein sequencing for the pharmaceutical industry, food industry and academia. Additionally, Bioscience Ventures is also working on a new urine test for the diagnosis of adrenal cancer. For more information, visit www.abingdon-health.com
Concurrent with the transactions, Abingdon Health Ltd. announced that it had secured a £3.0 million equity investment as part of a funding round led by Imperial Innovations Group plc. (AIM: IVO, ‘Innovations’), a leading technology commercialization and investment group. Abingdon Health will use the funds to acquire a controlling 50.1% interest in 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.
CATALYSIS Advises Life Science Innovators. Based in London, United Kingdom, CATALYSIS CAPITAL PARTNERS provides financial and strategic advice to industry leaders and emerging growth companies in diagnostics, medical devices, biotechnology and drug delivery. CATALYSIS brings a unique combination of broad transactional experience, extensive industry expertise and senior-level focus to each client relationship. CATALYSIS CAPITAL PARTNERS is authorized and regulated by the Financial Conduct Authority (FCA) UK.