Abingworth closes new biotech fund at €268m

Abingworth’s 12th fund, Abingworth Bioventures VII (ABV VII), exceeded its target of US$300m. The fund will invest across all stages of development including early and late-stage venture deals, clinical co-development, and public equities. Investment size per company will typically range from US$15m to US$30m.

Abingworth’s investor base has further diversified for the new fund, including capital from endowments, foundations, fund-of-funds, family offices, healthcare corporations, insurance companies and pension plans across the US, Europe and Asia.

“We are delighted to have raised this new fund and to be supported by such high-quality existing and new investors,” said Tim Haines, Managing Partner. “This is an exciting time in medical and scientific innovation to launch our new fund and we look forward to building on our recent achievements.”

In total, Abingworth has funds under management of over $1.2 billion. Recent exits include the acquisitions of Wilson Therapeutics by Alexion and of IFM Therapeutics by Bristol-Myers Squibb.