Abingworth raises new public equiti

Abingworth Management has announced the initial $53m closing of Abingworth BioEquities Fund, the group's first life sciences fund dedicated solely to quoted stocks. The vehicle is open-ended with a remit to invest in quoted life sciences companies in the US and Europe. It will invest in under-appreciated quoted stocks that have the potential to produce high returns over a two- to four-year holding period. It will invest broadly across the life sciences field, including human therapeutics and healthcare. As well as investing in small and mid-cap stocks in the open market, the fund will invest in public companies through PIPEs and negotiated transactions. Dr Joe Anderson will manage the fund.

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