Abingworth Management closed Abingworth Bioventures IV LP (ABV IV), its sixth life science venture fund.
Abingworth announced the launch of its new fund in May 2003. Because the fund was more than twice oversubscribed, the firm increased the size to $350 million, above its original $275 million target.
ABV IV will invest primarily in biotech and medical companies in the United States, United Kingdom and Europe. It invests broadly across the life sciences field and includes technologies, therapeutics, medical devices and instrumentation.
Abingworth was founded in 1973 and operates offices in London, Cambridge, U.K. and Palo Alto, Calif. It now has funds under management of over $700 million and 20 staff. The company has backed more than 80 life science and medical firms.
