LONDON (Alliance News) - Imperial Innovations Group PLC on Tuesday said it has led a GBP3 million investment in portfolio company Abingdon Health Ltd.
The investment company said it invested GBP2.5 million in Abingdon alongside existing investors and now has a 33.7% stake in the business.
In conjunction with the investment, Abingdon has appointed Chris Yates, the former chief financial officer of AIM-listed Immunodiagnostic Systems Holdings PLC, as its new chief executive.
Abingdon is an in-vitro diagnostic group, and the investment comes after it launched its Seralite-FLC device, a rapid diagnostic tool for multiple melanoma.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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