Abingworth Management, the UK-based life sciences venture capital firm, has surpassed its $150m (€169m) fundraising target, closing its third life sciences fund at $225m, despite market uncertainty causing difficulties for many fundraisers.

Stephen Bunting, managing director at Abingworth, said that the new fund had received commitments from over 20 investors, including fund of funds, pension funds and insurance companies, and a number of new investors. Further details of the investors were not disclosed.