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Alternative Assets  + Private Debt  + Private Equity  |  January 24, 2023
Pathalys Pharma Raises $150M Led by Abingworth; Forms Strategic Collaboration with Launch Therapeutics
Joe Palmisano
By: Joe Palmisano

Pathalys Pharma Raises $150M Led by Abingworth; Forms Strategic Collaboration with Launch Therapeutics

Pathalys Pharma, a biotech company developing therapies for chronic kidney disease, has secured $150 million in new Secured Product and equity financing to support phase 3 clinical trials for its leading drug candidate.

Abingworth, a life sciences investment firm owned by global investment firm Carlyle, led the financing. As part of the deal, Pathalys will collaborate with Launch Therapeutics, a clinical development company backed by Carlyle.

Carlyle leapt into the biotech investment scene last year when it bought out Abingworth. At the time of the deal, Abingworth and Carlyle brought Launch Therapeutics into the fold.

The financing marks a significant milestone for Pathalys, which is headed by biopharma veteran Neal Fowler, the former CEO of Morrisville-based Liquidia Corp.

The company launched in March 2022 with backing from Catalys Pacific and DaVita Venture Group.

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Pathalys PharmaLaunch Therapeutics

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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