The investment will help develop the company, which focuses on the validation and discovery of molecular biomarkers for disease diagnosis and screening.

Venture capital investor Albion has made several investments in the healthcare sector, particularly in diagnostic technologies.

Healthcare companies already in its portfolio include Mirada Medical, Vivacta, Dexela and Dysis Medical.

Albion’s latest investment in Abcodia complements previous asset-backed investments such as Oakland Care Home, made last year, it said in a statement, creating a healthcare portfolio that balances high return investments with low risk asset backed investments.

Abcodia has access to a serum collection licensed from the University College London (UCL).

Its aim is to improve the diagnosis of common life-threatening diseases such as colon, lung and pancreatic cancers and other debilitating conditions like osteoporosis, diabetes and rheumatoid arthritis.

Albion was established in January 2009 following its acquisition of Close Ventures from Close Brothers Group and was structured as a partnership formed by the former Close Ventures management team.