Abselion secures £6.6 million for groundbreaking bioprocess technology
Deal News | Dec 05, 2024 | Business Growth Fund (BGF)
Abselion, a pioneer in the development of automated analytical instrumentation, has raised £6.6 million in a Series A funding round to advance its Amperia system. The innovative benchtop instrument allows for rapid and convenient quantification of proteins such as antibodies directly from crude samples, providing key data promptly to enhance bio-research efficiency. The investment was led by M Ventures, Merck's strategic VC arm, with contributions from BioProcess 360 Partners, Untitled Ventures, BGF, and other existing investors. With the new funding, Abselion aims to commercialize and expand the capabilities of its RED technology-driven system, targeting an improved standard in bioprocess analytics and offering universal accessibility for laboratories and processes.
Sectors
- Biotechnology
- Venture Capital
Geography
- United Kingdom – Abselion is based in the UK, and the investment from BGF, a British growth capital investor, highlights its geographical roots.
Industry
- Biotechnology – Abselion operates in the biotechnology sector, focusing on analytical tools for protein quantification, which is crucial for life sciences research and bioprocessing.
- Venture Capital – The funding round involved several venture capital participants including M Ventures, BioProcess 360 Partners, Untitled Ventures, and BGF, signifying the venture capital industry's role in financing innovative startups.
Financials
- £6.6 million – The total funding amount raised by Abselion in the Series A financing round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Abselion | Target company | Company | A company specializing in developing automated analytical instrumentation for protein quantification. |
| Business Growth Fund (BGF) | Investor | Company | A British-based investment company providing growth capital for innovative startups. |
| M Ventures | Lead Investor | Company | The strategic corporate venture capital arm of Merck, focusing on investments in science and technology companies. |
| BioProcess 360 Partners | Investor | Company | A venture capital firm specializing in investments related to bioprocessing technologies. |
| Untitled Ventures | Investor | Company | A venture capital firm focusing on early-stage technology investments. |
| Merck | Parent company of M Ventures | Company | A leading global science and technology company, parent to M Ventures. |
| R42 | Investor | Company | An existing investor participating in the funding round. |