Founded 1973; 179 life science companies invested, 74 IPOs, 48 M&As. Acquired by Carlyle Aug 2022. 30+ FDA approvals past decade. Manages c.£3B incl. ACCD 2 (£583M), CCD-CIF (£356M). 40-person team across London, Boston, Menlo Park. Launch Therapeutics operating co (2022) led by Anshul Thakral. Portfolio: Alnylam, Galapagos, Entact Bio, Wugen, Scorpion.
Investment Focus
Investment Thesis
Therapeutics-focused: seed/early-stage, development stage, clinical co-development. ACCD 2 fund equips triple-digit million investments in late-stage clinical. Non-dilutive asset-based financing for pivotal clinical programs; success payments due only on drug approval, may include royalty component. Partners: AstraZeneca, Eisai, Apellis, Pfizer. Avoids consumer healthcare, devices, diagnostics. Primary geography: US (58 investments), UK (14), EU.
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