ABCAM - another e-Commerce Retailer

Abcam’s growing reputation has only been exceeded by the firm’s actual growth over the last seven years, vindicating a business that was shunned by the VC community and had to famously resort to selling antibodies from a bucket of ice in the Cambridge colleges.

Dedicated to selling high-quality antibodies over the Internet, the Cambridge Science Park-based business recently listed on the London Stock Exchange’s AIM list and raised over £10m giving it a market cap of over £57m.

An entrant in the Growth & Expansion category of the 2005 East of England Business Awards, the company’s relentless development continues to attract major plaudits from UK business analysts and experts.

Last year’s first place in Deloitte’s East of England Technology Fast 50 was followed by a third place this year, its fourth consecutive year in the East of England league table and based on sales growth of 2,607 per cent.

Recognition has also come in the shape of the Sunday Times Microsoft Tech Track league table.

Abcam secured 39th place nationally for fastest growing unquoted technology companies, making it the third consecutive year that Abcam has been ranked in the top 40.

Abcam markets research-grade antibodies to academic and commercial users and is headquartered in Cambridge, UK, with a US office in Cambridge, Massachusetts.

In the year ending June 30, Abcam reported sales of £12.1m (2004: £6.72m) and pre-tax profits of £2.98m (£1.45m). The company expects sales in the financial year ending June 30, 2006, to be no less than £18.5m.

Abcam’s principal founder and now managing director, Dr Jonathan Milner, left academia to set the company up in 1998 after himself and colleagues were frustrated in their search for quality antibodies, vital for much of their research.

The plan was to sell the best antibodies in the world with the most comprehensive, honest and up-to-date datasheets, fast delivery and helpful customer support.

The original business plan was rejected by VCs when it was looking for the funds necessary to build its all important website.

Dr Milner sought early investment from friends and family and some from local business angels which saw it through its first couple of years.

The initial lack of support left Dr Milner to roam the University of Cambridge labs with a bucket full of ice and antibodies in a desperate attempt to generate some cashflow.

Now, as well as its 5,000 sq ft base on the Science Park, it has another home in Cambridge, Massachusetts.

Abcam provides more than 7,600 products, which are shipped direct to over 60 countries, and employs between 40 and 50 staff.