4:35 PM
Jul 09, 2018
 |  BC Extra  |  Financial News

Abingworth closes BioVentures VII fund at $315M

Abingworth Management Ltd. closed its BioVentures VII fund at $315 million, exceeding the fund's $300 million target. Funds will be invested in the U.S. and Europe.

Abingworth's therapeutic interests for BioVentures VII include next-generation cell therapies, antivirals and anti-infectives, Managing Partner Kurt von Emster told BioCentury.

Investments will range from about $15-$30 million, and have so far included an Abingworth-led series B round for cancer vaccine company Nouscom AG (Basel, Switzerland), participation in a series A round for cough company Attenua Inc. (Mountain View, Calif.) and an investment in clinical co-development company Avillion LLP (London, U.K.).

In 2014, Abingworth closed BioVentures VI at £225 million ($374.7 million). According to von Emster, investments from that fund that have yielded double-digit returns include exits from Wilson Therapeutics AB, IFM Therapeutics Inc. and CRISPR Therapeutics AG (NASDAQ:CRSP).

Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) acquired Swedish biotech Wilson this year. Bristol-Myers Squibb Co. (NYSE:BMY) acquired immunology company IFM last year. CRISPR went public in 2016.

BioVentures VII is the firm's twelfth and leaves it with over $1.2 billion under management.

User Sign in

Trial Subscription

Get a 4-week free trial subscription to BioCentury Extra

Article Purchase

Purchase this article for limited one-time distribution and website posting

$750 USD