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Abingworth ‘will launch $1.5bn fund for co-developed drugs’
pharmaphorum December 2, 2024
Venture capital group Abingworth is reportedly trying to raise up to $1.5 billion in investment funding to support biopharma companies’ clinical development programmes in return for royalties on future sales.
The Carlyle-backed investor is hoping to provide backing for up to eight late-stage clinical trials in the pioneering financing model, according to the Financial Times, which cited people familiar with the matter.
If confirmed, the new fund would represent an upscaling of an unusual investment approach that Abingworth has already started implementing through agreements earlier this year with Gilead Sciences and Teva.
In February, Abingworth offered Gilead up to $210 million to support multiple clinical studies of the pharma company’s TROP2-directed antibody-drug conjugate (ADC) Trodelvy (sacituzumab govitecan) in non-small cell...
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