Sofinnova Partners, a European life sciences venture capital firm based in Paris, London and Milan, closed Sofinnova Crossover Fund at €445m ($540m USD).
Led by Cédric Moreau, Partner, the Sofinnova Crossover Fund will maintain its focus on European clinical-stage companies needing scale-up capital and will also support best-in-class companies in the U.S. and elsewhere.
The vehicle has, to date, invested in 10 companies developing unique products that address major unmet clinical needs. The initial portfolio has demonstrated outstanding progress since inception, with the majority of investments reaching positive clinical trial milestones and raising large financings, including two NASDAQ IPOs of European companies.
Founded in 1972, Sofinnova Partners is an established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2 billion under management.