1. Scrip
  2. >>Business
  3. >>Financing

Abingworth Offers Home For Big Pharma Pipeline Projects

Closes $582m Clinical Co-Development Fund

 
• By Kevin Grogan

The UK-headquartered life sciences investment firm has comfortably exceeded its target of $350m for a fund dedicated to taking on late-stage products, incurring all the clinical and regulatory risk and receiving a pre-negotiated return once the drug is approved.

gold
Abingworth hoping to strike gold with pharma and biotech assets • Source: Alamy

The ears of big pharma and large biotech firms looking to progress promising but non-priority R&D assets will have pricked up on the news that transatlantic life sciences investment firm Abingworth has closed its new fund focused on clinical co-development at a whopping $582m.

Having closed the $465m Abingworth Bioventures 8 fund (ABV 8) in February, the London-based firm with a strong presence on...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

Vor Is Reborn With New CEO And Ambitious RemeGen Autoimmune Pact

 
• By Kevin Grogan

The biotech had been looking at options to survive since May.

Stock Watch: When The Biotech Bandwagon Music Stops

 
• By Andy Smith

The number of viable biotech companies exploiting a particular technology should be limited by intellectual property but the number of biotech IPOs exploiting that same technology always seems greater than those with freedom to operate.

China Signals Restarting IPOs For Unprofitable Biotechs

 
• By Dexter Jie Yan

The China Securities Regulatory Commission has proposed a new “growth tier” for the STAR Market of the Shanghai Stock Exchange, to reinstate the market’s listing standards for unprofitable firms.

BIO Notebook: Woodcock Calls For Doing The Right Thing, Dealmaking Remains Constrained

 
• By Mandy Jackson, Joseph Haas, and Sarah Karlin-Smith

Highlights from Day Four of the BIO International Convention include Woodcock offering practical advice on rare disease trials, the sorry state of dealmaking mid-year, Novartis discussing its approach to partnering, and Generate looking for funding to move into Phase III.

More from Business

Kymera Inks CDK2 Deal With Gilead

 
• By Alaric DeArment

Deal Snapshot: The biotech will receive up to $750m from Gilead for molecular glue degraders against CDK2.

Nektar Bounces Back As Eczema Drug Rezpeg Heads For Phase III

 
• By Kevin Grogan

Lilly-rejected candidate impresses in Phase IIb atopic dermatitis trial.

Battle For Obesity Market Shifts Gears in India: Will Wegovy Trump Mounjaro?

 
• By Anju Ghangurde

Novo Nordisk debuts Wegovy in India, gears for pole position in obesity. The Danish group’s leadership doesn’t appear too perturbed about the head start for Lilly’s Mounjaro or the imminent arrival of generic semaglutide next year.