Avillion, which was created and incubated within Abingworth, provides an innovative model for clinical development. Avillion helps its pharmaceutical and biotech partners to bring more drugs to the market by providing funding, speed of execution, and quality data and results. The funding is EPS sparing for Avillion’s partners, with a deal size up to $250 million. The speed of execution is remarkable: Avillion completed an FDA briefing document within 10 days and accelerated an entire programme by approximately a year. The quality is also exceptional because Avillion provides greater oversight of the CRO, including engagement with all clinical sites, through its focused team that has outstanding operational expertise.
Avillion’s first transaction is a collaboration with Pfizer to obtain first line marketing approval for Bosulif™ (bosutinib) in patients with CML (chronic myelogenous leukaemia), which completed enrolment in September 2015.
We started with a blank sheet of paper. Genghis Lloyd-Harris and Sarah Shackelton worked together to seek out and hire experienced executives. They put together an outstanding team, including the CEO, Allison Jeynes-Ellis. The company worked from our London office initially and the quality of the team has been further verified by highly positive feedback from their collaborators.
Avillion was initiated by Abingworth LLP while we were in the process of raising a new fund. Our willingness to fund the company at Abingworth LLP’s risk reflected our strong belief that this would be a successful start-up.