Antoine Papiernik, Sofinnova managing director

Sofinno­va Part­ners stays fo­cused on late-stage deals with a new, $540M crossover fund

One of Eu­rope’s most high-pro­file bio­phar­ma in­vestors is get­ting $540 mil­lion to in­vest in new crossover deals for late-stage com­pa­nies.

The Paris-based VC says the fresh Sofinno­va Crossover Fund raise po­si­tions them as the “largest crossover in­vestor in Eu­rope ded­i­cat­ed to late-stage bio­phar­ma and medtech in­vest­ments.”

They got a leg up in France af­ter win­ning a spe­cial “Tibi” des­ig­na­tion from the French gov­ern­ment, giv­ing them ac­cess to a pool of €6 bil­lion that helped them gain an edge with in­sti­tu­tion­al in­vestors. Since they were found­ed close to 50 years ago, the ven­ture group has backed more than 500 com­pa­nies and cur­rent­ly has more than €2 bil­lion un­der man­age­ment.

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Life Sciences Senior Associate

General Catalyst

San Francisco, CA, USA