Abingworth Achieves Financial Close, Raises USD 582 Million
Abingworth, a London-based venture capital firm, has announced the closing of its new Clinical Co-Development Fund 2 (ACCD 2) worth USD 582 million, however, the fund was aiming to gather USD $350 million.
Not long ago, the company also closed on the Abingworth Bioventures 8 (ABV 8) fund at $465 million. At the moment, the company’s total fund stands over USD 1 Billion, which it plans to invest in the life science companies in the U.S, UK, and Continental Europe.
Earlier, Abingworth used to invest through its co-development portfolio companies Avillion and SFJ Pharmaceuticals, which helped in the facilitation of clinical trials (taking on the clinical and regulatory risk for pre-negotiated returns if and when the drug is approved) as well as smooth allocation of funds. So far, the firm has made investments in 11 co-development deals through Avillion and SFJ; with active collaborations and pacts with AstraZeneca, Apellis Pharmaceuticals, Nektar Therapeutics, and PhaseBio Pharmaceuticals in the run.
FDA’s Nod to Pfizer/BioNTech COVID-19 Vaccine For 12-15 Age Group
The Food and Drug Administration, in a very first, has given a go-ahead to Pfizer-BioNTech for the expansion of its Covid-19 vaccine administration under emergency use in the age group 12- to 15-years.
Until now, the duo’s vaccine was authorized for the population of 16 years and above in the US. The decision of the USFDA to broaden its use came after the companies demonstrated that the trials investigating the vaccine in the subjects at concern proved to be 100% efficient with or without prior SARS-CoV-2 infection and generated robust antibody responses.
While the whole world is struggling with waves of COVID-19, the concern of the older population has been mostly around their children below the age of 18, as they were not getting immunized. The news would bring great relief to parents now.
Alebund Pharma Raises Funds worth USD 60 Million
A China-based pharmaceutical company, Alebund Pharmaceuticals, has announced the closing of a new Series B financing round worth USD 60 Million. The financing round was led by Quan Capital with help from a sovereign wealth fund, 3E Bioventures Capital, and Sherpa Healthcare Partners.
Besides, other ventures that took part in the round included Lilly Asia Ventures and Med-Fine Capital.
The company plans to use the proceeds from the financing round to advance R&D of preclinical therapeutics assets, clinical trials, and expand manufacturing hubs and human resources. To niche it down, the major allocation is expected to go towards strengthening the renal disease pipeline by targeting diseases like renal chronic kidney disease (CKD)/dialysis complications, IgA nephropathy, diabetic kidney disease, and autosomal dominant polycystic kidney disease.
Biogen and Capsigen Combine Forces to Strengthen AAV Portfolio
Biogen Inc. and Capsigen Inc. announced a strategic research collaboration to develop novel adeno-associated virus (AAV) capsids that have revolutionized the delivery of gene therapies, thereby addressing several health concerns due to genetic diseases.
Under the terms of the collaboration, Capsigen will leverage its proprietary TRADE™ platform and associated technologies to identify and engineer novel AAV capsids specifically designed to target a particular indication.
While Biogen will be at the forefront of handling financial needs. The company will provide a $15M upfront payment, along with research milestone payments of up to $ 42M and up to an additional $1.25 billion in potential development and commercial payments. Capsigen will also be eligible to receive royalties on future net sales of products.