Abingworth closes 11th life sciences fund on $105m

Many investors in the Abingworth Clinical Co-Development Fund were family offices and funds of funds.

Life sciences-focused investment group Abingworth has closed its 11th life sciences fund on $105 million, ahead of its $100 million target.

The Abingworth Clinical Co-Development Fund (ACCF) will invest in late-stage therapeutic clinical programmes from pharmaceutical and biotech groups through its co-development portfolio companies.

The co-development companies will finance late-stage clinical trials and incur the clinical and regulatory risk, according to Abingworth’s managing partner Tim Haines, who told Private Healthcare Investorthat the firm would also be looking to launch another venture fund later this year.

Read more by visiting http://www.privatehealthcareinvestor.com.