There’s a lot of money to be made in British healthcare, just ask Jonathon Milner. The Cambridge scientist retained a 28 per cent stake in his £58m antibody catalogue business when he listed it on London’s junior market in 2005. Thirteen years and an eight-fold share price increase later and Abcam (ABC) is one of Aim’s biggest companies. Mr Milner – who has made regular share sales in the last few years – now owns 10 per cent of the group, a stake that is worth £250m.
But Abcam hasn’t always been a star. Panmure Gordon analyst Julie Simmonds remembers the scepticism in the city when the company – which had only recently progressed from selling antibodies out of an ice bucket in the laboratories of Cambridge University – announced its IPO. Even the Investors Chronicle failed to foresee the growth to come, describing the group as “fairly priced” at 280p following its first set of financial results (at the time of writing, its share price is 1,323p).