Sofinnova Partners, a European life sciences venture capital firm based in Paris, London and Milan, closed its medtech acceleration fund, at €63m ($75m USD).
Sofinnova MD Start III enables Sofinnova MD Start’s pioneering team of serial entrepreneurs to further support clinicians in transforming innovative ideas into medical realities through the development of therapeutic medical devices.
The fund leverages Sofinnova MD Start’s acceleration model, with its combination of early-stage financing and company building, which has been demonstrated through the creation of 10 medtech companies and over €25m deployed to date. Recent investments include two pre-clinical stage companies such as:
- Moon Surgical, developing an assistance platform for minimally invasive surgery, and
- Gradient Denervation Technologies, developing an endovascular device to treat pulmonary hypertension.
Last month, a significant milestone was announced with the acquisition of preCARDIA, a company created and accelerated through MD Start II to develop an innovative solution for patients with acute decompensated heart failure.
The fund’s team is led by Antoine Papiernik, Chairman and Managing Partner, and Anne Osdoit, Partner.