Sofinno­va bags $650M for a ded­i­cat­ed biotech fund

Sofinno­va Ven­ture Part­ners has raised a record $650 mil­lion for its 10th fund. The plan now at the Men­lo Park, CA-based firm, which has now raised more than $2 bil­lion over the past decade to in­vest in clin­i­cal-stage biotech com­pa­nies, is to par­cel out the in­vest­ments in $15 mil­lion to $35 mil­lion pack­ages to some 20 to 25 biotech com­pa­nies.

That mon­ey will be con­trolled by a small group of VCs with a long track record and plen­ty of con­nec­tions in the biotech field: Jim Healy, MD, PhD; Mike Pow­ell, PhD; Anand Mehra, MD; Sunil Agar­w­al, MD; Lars Ek­man, MD, PhD; David Kabakoff, PhD; and Dan Welch.

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Venture & Research Associate

Alexandria Real Estate Equities

San Francisco, CA, USA