Carlyle and Abingworth Make First Major Biotech Investment

Launch Therapeutics, a joint project between the Carlyle Group and its recently acquired Abingworth, is funding the Australian biotech Opthea to the tune of $170 million. The deal will also provide clinical, regulatory, and commercial services. The deal is intended to help develop and launch OPT-302, a drug for age-related macular degeneration that is currently in a Phase II trial.

According to Amber Tong, “The Opthea deal is non-dilutive, meaning that instead of stock, Carlyle and Abingworth will take “success payments,” both fixed and variable depending on the annual sales of OPT-302 if approved in a major market — cumulatively capped at four times the funded amount.”

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(Source: Endpoints News, August 15th, 2022)