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Abingworth Raises $465m To Back And Build New Biotechs

Largest UK-Based Life Sciences Venture Fund

 
• By Kevin Grogan

The ABV 8 fund will invest $15m to $30m per company across the range from start-ups to development-stage companies.

US dollars
returns for biotech have been excellent for the last 10 years • Source: Shutterstock

It may not be business as usual but the pharma and biotech industries are proving much more resilient than other sectors during this pandemic, making them highly desirable for investment.

So says Tim Haines, chairman and managing partner at life sciences investment firm Abingworth, speaking to Scrip as its latest fund, Abingworth Ventures 8 (ABV 8), closed at a whopping $465m. The raise comfortably exceeded its original target of $375m "and we are very pleased that we got to the hard cap

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