This is impressive. Carlyle is impressive for its sheer size –...

This is impressive.

Carlyle is impressive for its sheer size – US$376bn global assets under management.

And life sciences investor firm, Abingworth – which has only just been acquired by Carlyle – is impressive for its successful track record.

Of the 179 companies in which Abingworth has invested, 48 have proceeded to M&A, 74 have IPO’d and 31 regulatory approvals have been secured over the past 10 years.

The majority of companies backed by Abingworth are American, with a lesser number of UK-based companies and a smattering of European companies (one of these was Belgian company, Galapagos, in which Abingworth invested in 2002). Opthea seems to be the very first Australian or Asian life sciences company to be included in their portfolio.

Abingworth says that it seeks out companies with new treatments that will materially improve patients’ lives. They are looking for “game-changers and paradigm-shifts, not just incremental improvements.”

Consequently, Abingworth's portfolio leans heavily towards cutting-edge modalities such as gene therapies and CAR T. Three ophthalmology-focused companies are listed in their current or past portfolio – Atsena and Gensight Biologics, which are both developing gene therapies and Avedro, a specialist in corneal cross-linking.

Opthea is likely to be financed under Abingworth’s ACCD financing strategy. ACCD assets are typically at Phase 3 or pivotal stage and deemed to have a high probability of reaching approval and successful commercialisation within a few years. Abingworth typically invests upwards of US$30m in its ACCD assets and looks to hold for between 2 and 10 years.

Abingworth supports its portfolio companies with a team of experienced professionals at offices in London, California and Boston.

Although we are still awaiting the details, at early glance, this would seem to be a huge tick of validation for Opthea.

https://www.abingworth.com/strategy/clinical-co-development

https://www.fiercebiotech.com/biote...ent-firm-abingworth-forms-new-holding-company

https://www.carlyle.com/media-room/...uire-life-sciences-investment-firm-abingworth