Abingworth Management, the UK-US venture capital firm which closed its sixth life science fund on $350 million (€273 million) in July last year, has hired former Bioscience Managers director Michelle Doig to join the firm’s London-based operations.
In her role at Bioscience Managers, Doig advised UK and European life science companies on strategic, M&A and financial transactions. Prior to joining BML, Doig worked with UK and European life sciences companies at Lehman Brothers in London.
Doig will advise Abingworth on funding and refinancing its portfolio companies. “The process of refinancing companies is a highly specialised part of the venture investment business,” said Stephen Bunting, managing director at Abingworth. “Michelle has an excellent understanding of this area, knows all the key players on both sides of the Atlantic and will improve Abingworth's efficiency in completing and closing financings.”
Abingworth’s latest fund, ABV IV, will invest in unquoted biotechnology and medical companies, in the UK, Europe and the US. It will invest in platform technologies, therapeutics, medical devices and instrumentation. The firm will invest between $1 million and $20 million, averaging around $15 million per investment after all private rounds of financing.