Abingworth wants to pursue royalty-based partnerships with major pharma groups
Carlyle-backed investor Abingworth is tapping investors for a fund worth up to $1.5bn to bankroll clinical trials, as it pioneers partnerships with big pharmaceutical companies for a share of royalties from new drugs.The UK-based life sciences investor is planning to finance as many as eight late-stage trials with the new fund, according to people familiar with the fundraising.
It hopes the new fund will attract larger pharmaceutical companies that want to reduce their capital expenditure, while still pursuing a larger portfolio of potential drugs for “more shots on goal”, an industry term for maximising the chances of getting a successful drug. Pharma groups are eager to refill their drug pipelines as many blockbuster medicines will go off patent in the coming years.
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