The Life Sciences team advised global investment firm Carlyle and its life sciences franchise Abingworth, working with their recently formed development company Launch Therapeutics, on their non-dilutive financing of Opthea Limited, in which Opthea will be provided with up to $170 million in funding to advance the ongoing Phase 3 clinical trials and pre-commercialization activities of OPT-302 for wet age-related macular degeneration (wet AMD). In exchange, if OPT-302 is approved in a major market, Opthea will make a milestone payment upon regulatory approval and six subsequent annual fixed success payments, plus quarterly variable success payments equal to 7% of net sales, with cumulative return payments capped at four times the amount funded to Opthea.
Launch Therapeutics (Launch Tx) is a clinical development company with a mission to disrupt the late-stage development paradigm, accelerate timelines to regulatory success and bring new medicines to patients faster. To deliver this, Launch Tx offers pharmaceutical and biotech partners a variety of innovative models that combine access to capital with deep drug development, medical, clinical operations, regulatory and commercialization expertise. These models include significant risk financing, clinical co-development and full in-licensing. Founded in 2022, Launch Tx is backed by leading investors, Carlyle and its life sciences franchise, Abingworth, and is led by a committed, experienced team with an enthusiastic passion to fulfil its mission.
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. Abingworth is a leading transatlantic life sciences investment firm with approximately $2 billion under management. Abingworth helps transform cutting-edge science into novel medicines by providing capital and expertise to top caliber management teams building world-class companies.