Abingworth
20 Aug 2007
Overview
High points: Closing Europe’s then largest life sciences fund in February,
which was its eighth. Last year, Abingworth completed eight exits, including
six from European firms including PowderMed UK, which was acquired by Pfizer.
Abingworth also participated in seven financings including Ablynx of Belgium,
which develops next generation antibodies, nanobodies, HealthCare Brands
International of the UK, marketing over-the-counter products, and
Intelligent Medical Implants of Switzerland, developing a retinal stimulator
for visual perception in blind people, writes James Mawson.
AuM: $1.25bn
This fund: Abingworth Bioventures V £300m (February)
Last fund: Abingworth Bioventures IV $350 (2003)
Key people: Stephen Bunting has been managing director for the past five years. Other partners are Joe Anderson, Tim Haines and Genghis Lloyd-Harris, while Andy Sandham is the venture partner.
What the firm said: Founded in 1973, Abingworth has offices in London, Cambridge, Menlo Park, California and Boston. Abingworth’s investments range from $1m to $25m, averaging about $15m per investment after private rounds of financing.
What the critics said: Impressive record and team and able to carry out strong exits as pharmaceutical groups look for pipelines. Larger fund will be required as drug development becomes more expensive.
This fund: Abingworth Bioventures V £300m (February)
Last fund: Abingworth Bioventures IV $350 (2003)
Key people: Stephen Bunting has been managing director for the past five years. Other partners are Joe Anderson, Tim Haines and Genghis Lloyd-Harris, while Andy Sandham is the venture partner.
What the firm said: Founded in 1973, Abingworth has offices in London, Cambridge, Menlo Park, California and Boston. Abingworth’s investments range from $1m to $25m, averaging about $15m per investment after private rounds of financing.
What the critics said: Impressive record and team and able to carry out strong exits as pharmaceutical groups look for pipelines. Larger fund will be required as drug development becomes more expensive.
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