Finance Articles

Europe's Largest Life Science Fund to Take Part in Biotrinity 2007: Panel to Discuss How to Attract Globally Focussed Investment

(PRWeb) February 14, 2007 -- The keys to successfully attracting globally focussed investment will be the main topic of discussion for the VC panel at BioTrinity 2007. Tim Haines, a partner at Abingworth, the international life sciences investment group which raised Europe's largest ever life sciences venture fund, has announced that he will join the VC panel discussion alongside Nigel Pitchford, 3i investments, Dr Reinhard J Ambros, Executive Director, Novartis Venture Fund, together with locally renowned David Mott, Investment Director of Oxford Capital Partners who will chair the discussion.

Totalling £300 million ($587 million) Abingworth Bioventures V LP (ABV V) will invest in biotechnology and medical companies in Europe and the US. The fund's target of £250 million was significantly oversubscribed, but Abingworth decided to limit it to £300 million. This will typically be invested in tranches ranging from £7.5 million to £20 million, representing approximately 20 venture investments.

BioTrinity's panel discussion will cover: 'Attracting Globally Focused VC Investment' with 'Key Notes' from the US and EU investment funds that have invested in companies and alliances involving the UK's biotechnology and healthcare industry.

Tim Haines, Partner at Abingworth said, "We are delighted with the response that we have had to our recent fundraising and the quality of investors that we have been able to attract. BioTrinity offers us the opportunity to discuss potential venture investments with industry leaders in the sector."

Speakers at BioTrinity include:

Anker Lundemose, President, (OSI) Prosidion
Alex Chanas, Senior Director, Pfizer
Lubor Gaal, Director-Licensing Europe, Bristol-Myers Squibb
Rob Hockney, Director Alliance Management, Astrazeneca
Richard Bungay, CRO, Chroma Therapeutics
Tim Haines, Partner, Abingworth
David Mott, Investment Director, Oxford Capital Partners
Nigel Pitchford, Partner, 3i
Dr Reinhard J Ambros, Executive Director, Novartis Venture Fund
Nick Dunster, Wellcome Trust, Technology Transfer
Dr William Powlett-Smith, Partner, Ernst & Young

BioTrinity is taking place on the 27th and 28th March in Oxford, UK and is a unique opportunity to view showcase presentations from top tier companies from the UK's most successful biotech supercluster in Oxford and the South East of England.

More conference details are available online at: http://www.biotrinity.com.

For further information:
De Facto Communications

Deborah Cockerill
Tel: +44 (0) 20 7861 3838

Maria Patey
Tel: +44 (0) 20 7861 3838

Notes to Editors
Abingworth is a long-established venture capital firm dedicated to the life sciences sector on both sides of the Atlantic. The company invests across all stages of development, including early-stage as well as public companies. Abingworth has funds under management of over $1.25 billion. Founded in 1973, Abingworth has offices in London, Cambridge (UK), Menlo Park (California) and Boston.

BioTrinity 2007, 27-28 March 2007, Oxford, is the country's leading biotech networking event. It will showcase the Southern UK's biotechnology supercluster, which leads the UK in attracting investment. Twenty-five of the most promising drug discovery and development, diagnostics and medical device companies have been selected to be featured in BioTrinity's "Most Promising Emerging Company Showcase". There are also: one-to-one partnering meetings, a licensing and spin-out technology showcase, an exhibition and a number of workshops. More conference details are available online at www.biotrinity.com.

Oxfordshire Bioscience Network ("OBN"), the South East's most active biotech business network, promotes biotechnology and healthcare networking and enterprise across Oxford and the South East biotech super-cluster. Launched by Lord Sainsbury in 1999, OBN is now a financially self-sustainable network which raises 80% of its operating costs from private sources and operational activity. In the past 18 months, OBN has delivered over 25 meetings, attracting nearly 1700 delegates, notably its trademark BioTuesday biotech business networking evenings. Over the same period, Oxfordshire has received commitments to four major new developments, including a soon-to-be-unveiled new facility for incubator and grow on space in MEPC Milton Park, the largest industrial and science park in Europe.

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