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Abingdon Health Raises £1.1M

NEW YORK (360Dx) – UK-based Abingdon Health today announced it has completed a £1.1 million ($1.5 million) funding round.

Current shareholders in the firm participated in the financing, which will go toward working capital and the continued extension of Abingdon's lateral flow device products and associated reader systems, including Seralite, the company's rapid test for diagnosing and managing patients with multiple myeloma. Seralite FLC (free light chain) was launched two years ago and provides results within 10 minutes.

Abingdon last month inked a comarketing agreement, making it the preferred supplier for later flow contract manufacturing for Innova Biosciences, a Sygnis company. It recently also reached a deal to be the preferred partner for lateral flow development and manufacturing with Norwegian firm Skannex.