Sofinnova Ventures, a Menlo Park based investment firm dedicated to life science, closed its ninth fund at $500m.
Led by Srini Akkaraju, MD, PhD, Jim Healy, MD, PhD, Anand Mehra, MD, Mike Powell, PhD, Lars Ekman, MD, PhD, David Kabakoff, PhD and Jay Shepard, Sofinnova Venture Partners IX, L.P., focuses on investing in biotechnology companies.
Consistent with recent funds, SVP IX will provide capital primarily to companies with promising later stage clinical programs, along with select investments in earlier stage opportunities.
Investments will focus on developing specialty pharmaceuticals and orphan disease products.
Sofinnova also has offices in La Jolla, CA and Dublin, Ireland.