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London VC Sofinnova Partners pulls in £384M funding to help European clinical-stage companies

Sofinnova Partners
Image credits: Sofinnova Partners

The life science industry is entering its next S-curve of growth as various companies are working towards innovations and advancements to create a sustainable environment. 

Notably, the cash burns in this industry especially for clinical trials and R&D are way higher compared to product or service developments in other industries. 

However, in the past few years, the investment flow is on the rise from numerous venture capitalists. Sofinnova Partners is one of the VCs with 50 years of experience backing over 500 companies and creating market leaders around the globe. 

Closes €445M funding

Recently, Paris, London, and Milan-based VC firm announced the closing of their oversubscribed late-stage healthcare crossover fund at €445M (approx £384 million). 

This positions the VC as the largest crossover investor in Europe dedicated to late-stage biopharma and medtech investments. Today, Sofinnova Partners has over €2 billion under management.

Focus on European clinical-stage companies

The company will maintain its focus on European clinical-stage companies needing scale-up capital and will also support companies in the US and elsewhere. 

To date, Sofinnova has invested in 10 high-profile companies developing unique products that address major unmet clinical needs. The majority of investments reached positive clinical trial milestones and raised large financings, including two NASDAQ IPOs of European companies. 

The Sofinnova Crossover Fund has expanded its team recently and, operating from Paris and London, continues to see an exceptional flow of new investment opportunities, bolstered by the firm’s extensive global network, its leading role in Europe, and the strength of its multi-fund life sciences strategy.  

Specialised in healthcare and sustainability

Founded in 1972, Sofinnova Partners is a European venture capital firm in life sciences, specialising in healthcare and sustainability. 

The VC firm brings together a team of professionals from all over the world with strong scientific, medical, and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. 

Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, commented: “European biopharma and medtech companies have matured tremendously in the last decade. 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. With over €2 billion of assets under management dedicated to life science investing and an outstanding international team, Sofinnova Partners continues its expansion to partner with ambitious entrepreneurs across Europe, from company creation to late-stage developments.”  

Cédric Moreau, Partner in the Sofinnova Crossover Fund, commented: “We are grateful for the continuing support of our existing and new limited partners from all over the world who have helped us reach a target significantly beyond our initial objectives. The Sofinnova Crossover Fund is the largest of its kind in Europe and the only one with a team solely dedicated to growth-stage opportunities in healthcare. There has never been more awareness of the importance of investing in our collective health and future, and we are honoured to contribute to this endeavour through this fund strategy.”