Abingworth has closed $315M (€268M) for its most recent fund, Abingworth Bioventures VII, which invests in European and US life science companies.
In the current fundraising, Abingworth surpassed its target of $300M. The new fund will invest in life science companies in all stages of development, including early and late-stage venture deals. The company plans to invest between $15M to $30M (€13M to €26M) in each of its supported companies.
The investment firm has a total of 12 funds dedicated to life science and healthcare, a high number compared to competitor Andera Partners, and its portfolio companies including noteworthy biotechs such as CRISPR Therapeutics; Wilson Therapeutics — which is developing a first-in-class treatment for the rare genetic disorder Wilson’s disease; and GammaDelta Therapeutics — which is developing immunotherapies for cancer and other diseases using gamma delta T cells. According to Abingworth, it has invested in 148 life science companies since its founding in 1973 with over $1.2Bn (€1Bn) under its management, leading to 65 IPOs.
The fundraising attracted a broader investor base than for its previous funds, drawing upon capital from a range of sources, including endowments, family offices and healthcare corporations across the US, Europe and Asia. Given that the fund aims to invest globally in companies across all stages of development, the closing amount is not that high. For example, Andera Partner’s BioDiscovery 5 fund is valued at €345M and specializes in biotechnology and medical technology companies only in Europe.
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