Abingworth appoints Joe Anderson to manage quoted life science investments

London, UK, 10th February 2003 - Abingworth Management, the international life science group, has appointed Dr Joe Anderson as manager of Abingworth's investments in quoted development stage biotechnology companies. He is based at the company's headquarters in London, UK. 

Dr Anderson's main responsibilities will be managing Abingworth's quoted investments but he will also be contributing to deals in unquoted companies.

Dr Anderson has experience as an analyst and portfolio manager in the pharmaceutical and bioscience sectors. He joins Abingworth from First State Investments, part of the Commonwealth Bank of Australia, where he conceived, launched and headed the Global Health and Biotechnology Fund. Prior to this, he was Pan-European Pharmaceuticals Analyst at investment bank, Dresdner Kleinwort Benson. Previously, Dr Anderson was Head of the Policy Unit at the Wellcome Trust where he led a team researching and advising the Board on funding initiatives in medical research.

Dr Anderson has a PhD in biochemistry from Aston University, Birmingham, and a BSc in biology from Queen Mary College, London.

"We are delighted to welcome Joe to the team," said Dr Stephen Bunting, Managing Director at Abingworth. "Aside from his ability and experience in managing quoted investments, he is an excellent fit with the team."

Dr Anderson said: "I am delighted to be working with Abingworth. The role enables me to combine insights on public and private equities in Life Sciences at a time when quoted and unquoted companies are becoming increasingly interdependent. This is a great opportunity with a great team."

Notes for Editors
Abingworth was founded in 1973 and is a key player among life science venture capital investors with offices in London, Cambridge (UK) and Palo Alto. Specialising in unquoted life science and biomedical companies, Abingworth now has funds under management of over $700 million and 21 staff including experienced professionals with operational and venture capital expertise. The company has backed more than 80 life science/medical firms, most of which have gone public or been acquired. 

Abingworth is a strongly science driven investment organisation that is prepared to take on substantial technical risk. The management team has many years of operating experience and can actively assist scientific entrepreneurs in the development of their ideas into successful companies. Abingworth has extensive resources to assist portfolio companies at any stage of development and take them beyond the IPO stage.

For further information contact:

Dr Stephen Bunting
Managing Director
Abingworth Management
Tel: +44 (0)20 7534 1500
E-mail: bunting@abingworth.co.uk 
http://www.abingworth.co.uk 

Abingworth Management Limited
38 Jermyn Street London SW 1Y 6DN
Tel 020 7534 1500 
Fax 020 7287 0480