Angel/VC-backed Business of the Year 2012

Founders: Dr Julie Barnes, Chris Hodkinson, Professor Ian Jacobs Year Started: 2011 Website: www.abcodia.com

Abcodia is the world leader in biomarker validation and discovery service, operating in the rapidly growing sector focused on the search for cancer biomarkers to diagnose cancer earlier. 

Working with University College London, Abcodia has exclusive access to the largest blood serum bio-bank of its kind in the world, which it licenses out to some of the world’s largest diagnostic companies, alongside planning to develop its own intellectual property.

The business has impressed investors, securing funding from Albion Ventures and UCL Business. However, the start-up has managed to operate on a lean, virtual model that relies on the latest in smartphone and online communication technologies to enable the small team of six to manage a rapidly expanding business.

This lean start-up was also awarded the Innovative Business of the Year Award, the overall Natwest Business Startups Business of the Year Award and the Start-up Business Woman of the Year Award, which went to CEO Dr Julie Barnes.

Judges’ comments:

Abcodia is an exceptional business which looks set to become highly profitable while helping potentially millions of cancer sufferers. The judges were amazed by how much this start-up has achieved with a relatively modest amount of venture capital, both in terms of creating its service and also in signing up customers. Abcodia is a shining example of British technology and talent at its best, and embraces 21st century business practises, remaining lean and focussed.