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.
While typically focused on Europe primarily, Sofinnova Partners has also traditionally reserved a slice of its investment capital for US biotechs.
“European biopharma and medtech companies have matured tremendously in the last decade,” says Sofinnova Partners managing director Antoine Papiernik. “Sofinnova Partners was the first European VC to seize the opportunity to unlock the potential of these high-growth start-ups by providing late-stage capital, building on our decades of experience funding innovative life science companies.”