Abingdon is a UK-based diagnostics group specialising in ‘point of care’ tests, to diagnose disease in humans, animals and plants, and to measure drugs, hormones and other biomarkers in a range of sample types. Founded in 2008 the company employs around 40 people and also has operations in Birmingham and York.

On 18 January 2019 Abingdon closed a funding round with NPIF – Mercia Equity Finance (managed by Mercia Fund Managers and part of the Northern Powerhouse Investment Fund) raising total gross proceeds of approximately £1.5m.

Members of the Bristows corporate team that advised on this transaction included:

• Partner, Iain Redford
• Senior Associate, Charles Willison
• Associate, Sam Munday

Senior Associate Julia Cockcroft also provided tax advice to Abingdon.

The announcement of the funding has been reported online:

• https://www.abingdonhealth.com/secures-15m-npif-expansion/
• https://www.npif.co.uk/rapid-diagnostics-company-secures-1-5m-from-npif-for-expansion/
• http://www.thebusinessdesk.com/yorkshire/news/2032641-expanding-diagnostics-company-secures-1.5m-investment (paywall)

For more information about the legal aspects of funding please contact our corporate team.