Ebb & Flow

Abingworth raised its first life sciences fund - a $50 million vehicle - in 1987. Twenty years later, the firm has closed its eighth fund, Abingworth Bioventures V (ABV V), at £300 million ($588 million). The new pot of money almost doubles Abingworth's funds under management to $1.2 billion.

The firm was looking to raise £250 million, but lifted the cap because the deal was oversubscribed. Managing Director Stephen Bunting told Ebb & Flow that most of the LPs were existing investors and included pension funds, foundations and universities. ...