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Life Sciences Investment Company Closes New Fund

Currency dice (MD4 Group/Flickr)

(M4D Group/Flickr)

28 February 2014. Abingworth LLP, an investment company based in London, closed its 10th fund designed for financing life sciences and health care enterprises. The company says its Abingworth Bioventures VI fund raised £225 million ($375 million), exceeding its target of £200 million.

Abingworth expects its Bioventures VI fund to invest in life sciences companies in Europe and the U.S., making 15 to 20 transactions ranging in size from £5 to £20 million ($8 to $33 million). The company says the fund plans to make early and late stage venture and growth-capital deals in privately owned, as well as selected public companies, known as Venture Investments in Public Equities or Vipes.

The Bioventures VI already closed four deals, two of which are in the U.S.:

Avedro Inc. in Waltham, Massachusetts, developing corneal collagen cross-linking therapies to treat eye disorders, such as keratoconus causing visual distortions and post-Lasik ectasia or thinning of the cornea.

Avillion LLP in London, that funds and manages late-stage clinical trials for regulatory drug approvals

eFFECTOR Therapeutics in San Diego, developing small-molecule drugs as cancer treatments

GenSight Biologics in Paris, a developer of gene therapies for degenerative retinal disorders

In addition to pharmaceutical and biotechnology companies, Abingworth also invests in companies designing medical devices, instrumentation, and health services. Abingworth says it brings to its portfolio companies legal, investment banking, operating and recruiting capabilities, and can call on a network of scientific and industry consultants.

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