Sofinnova Partners Raises $200M Digital Medicine Fund
Sofinnova Partners (“Sofinnova"), a leading European life sciences venture capital firm based in Paris, London, and Milan, announced the successful close of Sofinnova Digital Medicine I at $200 million (€190M), significantly exceeding its target. The fund, spearheaded by Partners Edward Kliphuis and Simon Turner, is dedicated to backing pioneering entrepreneurs navigating the convergence of biology, data, and computation, and has already made investments into five revolutionary companies since its inception.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231025313997/en/
Edward Kliphuis, Partner, Sofinnova Digital Medicine Strategy and Simon Turner, Partner, Sofinnova Digital Medicine Strategy (Photo: Sofinnova Partners)
Antoine Papiernik, Sofinnova’s Chairman and Managing Partner, said: “The successful closing of Sofinnova Digital Medicine I above its target size marks yet another milestone in our growth as a global firm fostering disruptive innovations in life sciences. This newest fund in our platform of investment strategies is a testament to the trust our limited partners place in our vision and to Sofinnova’s longstanding commitment to shaping the future of healthcare.”
Sofinnova’s Digital Medicine Strategy comes at a pivotal moment when the healthcare sector is undergoing a significant transformation, aided by digital advancements. The fund targets three main areas: enabling technologies, analytics, and treatment. It provides entrepreneurs with financial backing, expertise, and deeply-rooted healthcare networks, empowering them to address global healthcare challenges and enhance patient outcomes worldwide.
The two most recent additions to the Sofinnova Digital Medicine portfolio include:
- L’école AI, creator of a “machine teaching” technology and established by an ex-Twitter Cortex founding team member, simplifies the deployment of deep-learning systems for computer vision in life sciences applications.
- Betteromics, the “Omics AI Cloud,” unifies disparate health and omics data into a single source of truth through a certified SaaS platform, backed by the expertise of its founding team from GRAIL, Verily and Google's Search Knowledge Graph.
Edward Kliphuis, Partner, said: “In just a few months since launching this strategy, we've executed five investments into transformative companies, including Kiro, BioCorteX, deepc, L’école AI, and Betteromics, which are fusing state-of-the-art computational methods with advanced biological innovations. Leveraging Sofinnova’s expertise and network, we serve as allies to digital medicine pioneers, enabling them to secure product-market fit and scale on a global stage.”
Simon Turner, Partner, said: “We bring Sofinnova’s deep healthcare expertise to entrepreneurs pioneering at the forefront of digital medicine where biology meets tech-industry approaches like rapid product iteration and accelerated commercialization. Our goal is to support innovators developing disruptive solutions for patients and health systems.”
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the 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. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.
Founded in 1972, Sofinnova Partners is a deeply 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 €2.5 billion under management. For more information, please visit: sofinnovapartners.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231025313997/en/
Contact information
Bommy Lee
Head of Communications
Sofinnova Partners
blee@sofinnovapartners.com
+33 (0) 6 47 71 38 11
North America
RooneyPartners LLC
Kate Barrette
kbarrette@rooneypartners.com
+1 212 223 0561
United Kingdom
Optimum Strategic Communications
Hana Malik
sofinnova@optimumcomms.com
+44 (0) 20 3922 0900
France
StrategiesImage
Anne Rein
anne.rein@strategiesimage.com
+33 (0) 6 03 35 92 05
Italy
Havas PR Milan
Pierluigi Cavarai
pierluigi.cavaraiext@havaspr.com
+39 (0) 392 77 999 33
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Matmut Selects Earnix to Deliver Comprehensive Modeling, Pricing, and Rating Engine29.11.2023 09:00:00 CET | Press release
Earnix, the global provider of AI-based SaaS solutions for insurers and banks, today announced that Matmut, a major mutual insurer in France, has chosen, and is now working with, Earnix as its partner. Matmut is one of France's leading property and casualty insurers, offering a range of personal and commercial insurance products. Earnix solutions address Matmut's business and IT needs by integrating easily into its tech stack, enabling rapid pricing adjustments. With Earnix, Matmut can seamlessly integrate machine learning models as part of its pricing strategy. This enables Matmut to not only build, test, and deploy rates into the market with ease, but also benefit from automation, governance, and auditability. Emeric Bellanger, Technical Director of Claims and Pricing at Matmut said, “This partnership empowers our pricing team to provide top leaders with recommended pricing changes based on simulation and the ability to implement these changes more easily." Earnix solutions enable ne
Global Healthcare Leaders Advance Sector Decarbonisation Ahead of COP2829.11.2023 08:00:00 CET | Press release
To accelerate the transition to net zero health systems, global healthcare leaders from the Sustainable Markets Initiative Health Systems Task Force are in advanced discussions with energy providers in China and India to scale renewable power across their supply chains. This is the first time that companies from across the global healthcare sector – including AstraZeneca, GSK, Novo Nordisk, Roche – have come together to pioneer such initiatives in these countries. China and India are key markets for pharmaceuticals manufacturing, estimated to account for up to 50% of materials for medicines.i This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231123104876/en/ Air pollution over Shanghai illustrating the climate health crisis. (Photo: Business Wire) In China, the power agreements would unlock renewable energy in Jiangsu, Guangdong, Shanghai and Beijing. The agreements are set to bring around 70 megawatts (MW) of renewable power a
Capcom Reveals Dragon’s Dogma 2 Scheduled to Launch March 22, 2024!29.11.2023 02:00:00 CET | Press release
Capcom Co., Ltd. (TOKYO:9697) today announced that Dragon’s Dogma 2, the latest game in the Dragon’s Dogma series, is scheduled to be released on March 22, 2024. With the launch of Dragon’s Dogma 2, Capcom closes out a stellar year of major title releases for its 2023 fiscal year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231128898951/en/ Dragon's Dogma 2 is a single player, narrative driven action-RPG and the latest title in the Dragon’s Dogma series. The game features intricately crafted, gorgeous visuals powered by Capcom’s proprietary RE ENGINE that elevate its unique gameplay experience to provide a truly immersive fantasy world sure to delight both newcomers as well as long-time fans of the series. (Graphic: Business Wire) Dragon’s Dogma 2 is the latest title in the series, and the first mainline entry since the original Dragon’s Dogma was released in 2012. The game is being developed on Capcom’s proprietary RE EN
Rocket Software to Acquire OpenText’s Application Modernization and Connectivity Business28.11.2023 22:20:00 CET | Press release
Rocket Software, Inc. (“Rocket Software”), a global technology leader driving modernization for the world’s largest companies, today announced it has signed a definitive agreement to acquire the Application Modernization and Connectivity business (AMC) of OpenText (NASDAQ: OTEX), (TSX: OTEX), which was formerly part of Micro Focus. The total purchase price is $2.275B. For decades, Rocket Software has been the partner solving complex IT challenges for the largest and most innovative organizations, across infrastructure, data, and applications. Rocket Software’s hybrid cloud strategy empowers customers to optimize their application portfolio wherever they are in their modernization journey, enabling them to bridge the gap to modern use cases without disrupting their mission-critical operations. This approach allows organizations to benefit from the mainframe's security and dependability while also taking advantage of powerful analytics tools in the cloud. AMC has been a leader in applica
NetApp and AWS Deliver a Nine Times Performance Increase for Amazon FSx for NetApp ONTAP28.11.2023 22:05:00 CET | Press release
NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, announced at re:Invent, scale-out FSx for ONTAP® file systems through its collaboration with AWS. Scale-out file systems offer up to nine times higher storage performance compared to existing file systems, enabling customers to run high-performance applications on AWS more quickly and efficiently. FSx for ONTAP enables customers to use ONTAP’s data management features for a wide variety of workloads, such as user and application file shares, relational databases (SAP HANA), data stores for VMware cloud on AWS and backup and disaster recovery. With the new enhancements, customers can now use FSx for ONTAP for a broader range of higher-performance use cases, such as high-performance computing (HPC), electronic design automation (EDA), visual effects (VFX) and film editing, life sciences, seismic analysis, machine learning, and generative AI. Organizations of all sizes are migrating on-premises workloads to AWS or deploy