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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.

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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 the east and west coast of the US, has raised over $1bn in new funds to invest in life science companies in the US, UK and continental Europe in just three months

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