Sofinnova Partners raises €1.2 billion to fund up to 60 life sciences startups

FRANCE – Sofinnova Partners, a leading European venture capital firm specializing in life sciences, has raised €1.2 billion (US $1.27 billion) to support 50 to 60 new companies.

The funding was secured over the past year, with more than €1 billion (US $1.08 billion) raised in the final three months of 2024, bringing the firm’s total assets under management to over €4 billion (US $4.33 billion).

The Paris-based VC firm has a long history of investing in biopharma, medtech, industrial biotech, and digital medicine. Since its founding in the early 1970s, Sofinnova has backed around 500 companies.

Antoine Papiernik, Chairman and Managing Partner of Sofinnova, emphasized the impact of the new funding: “This will empower a new wave of entrepreneurs tackling some of the world’s most pressing health and sustainability challenges.”

The funding comes from institutional investors, sovereign wealth funds, corporations, and family offices, further strengthening Sofinnova’s position in the life sciences sector.

The firm plans to reveal more details about specific investments once final fund closings are completed.

Growing investor confidence in life sciences

Sofinnova’s rapid fundraising reflects growing investor confidence in the life sciences industry, driven by global trends such as aging populations and scientific advancements.

Earlier this year, Papiernik described the sector as a “multi-faceted haven of resilience”, highlighting its strength even amid economic uncertainty.

He also predicted a biotech resurgence on the Nasdaq, fueled by Big Pharma’s competition for promising assets and increasing mergers and acquisitions (M&A).

While Sofinnova primarily invests in European startups, it also supports U.S. companies and is now expanding its focus to Asia, particularly China.

Expanding into digital medicine and AI

Two years ago, Sofinnova expanded into digital medicine, becoming the first European VC to do so.

This move led to a US $200 million funding round dedicated to the sector. In 2023, the firm also launched Sofinnova AI, which uses machine learning and data analytics to guide investment decisions.

Sofinnova is part of a growing network of European life sciences venture capital firms, including Abingworth, Forbion, Kurma Partners, and Earlybird, all of which have recently announced new funds.

The firm operates with a team of 80 professionals, including 25 investment partners, across three European offices in Paris, London, and Milan.