Abingworth, a renowned international life sciences investment group, has successfully closed a new fund, raising an impressive $356 million. This fund is uniquely tailored to facilitate collaborative late-stage clinical program development with biotechnology and pharmaceutical companies. The fund, aptly named the “Clinical Co-Development Co-Investment Fund,” not only exceeded its initial target of $300 million but also attracted substantial interest, reflecting the strong demand for such initiatives. The capital raised will be channeled into supporting companies in the United States, the United Kingdom, Europe, and the Asia-Pacific region.
Abingworth has a rich history of advancing its clinical co-development (CCD) investment strategy, which was launched 15 years ago. Throughout this journey, they have forged 14 impactful collaborations in the field of CCD, partnering with industry giants such as AstraZeneca, Eisai, and Pfizer. In the last three years alone, Abingworth has raised an impressive total of $930 million in fresh funds dedicated to their clinical co-development strategy. Notably, Abingworth’s CCD program is not limited to providing financial backing but extends to furnishing valuable resources to their portfolio companies.
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This includes the support of clinical and regulatory teams to effectively execute clinical trials. The co-development program is ingeniously designed to enable pharmaceutical companies to pursue additional clinical initiatives while allowing biotechnology firms to circumvent the dilution of equity in the near term, as stated by Dr. Bali Muralidhar, Chief Investment Officer, Chief Operating Officer, and Managing Partner at Abingworth.
With a rich history dating back to its inception in 1973, Abingworth has invested in more than 185 life sciences companies. Its impressive portfolio currently includes innovative companies like Entact Bio and Scorpion Therapeutics. Over the past decade, companies within the Abingworth portfolio have achieved a remarkable feat – securing over 30 FDA approvals, a testament to their dedication to advancing healthcare and medical innovation.
In a significant development last April, the Carlyle Group, a global investment powerhouse, acquired Abingworth, further expanding its presence in the pharmaceutical and life sciences sectors. This strategic move has paved the way for Abingworth to continue its trailblazing efforts in the field of clinical co-development, reinforcing its commitment to nurturing innovative healthcare solutions and fostering collaborative partnerships in the life sciences industry.
