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

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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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