Sofinnova closes $440 million fundraising to invest in life sciences companies

Sofinnova Ventures, a California, USA-based investment firm which already has $1.4 billion under management, yesterday announced that it has completed the fundraising of Sofinnova Venture Partners VIII with $440 million in commitments to invest in life sciences companies.

Sofinnova will invest the capital primarily in later stage health care companies, with a specific focus on clinical stage drug development and spinouts. The company says it will continue the team’s successful strategy of sourcing investments in both the USA and abroad, with a significant portion of the fund potentially invested in Europe.

“We are grateful to have the support of our existing limited partners, as well as exceptional new investors that have demonstrated a long standing commitment to this asset class,” commented Jim Healy, a Sofinnova general partner. “We believe that the current environment and innovative products in the health care field offer an excellent opportunity to build valuable businesses. The Sofinnova team looks forward to working with our collective network to identify and develop important new drugs and leading life sciences companies,” he added.