Sofinnova Partners Raises $200M Digital Medicine Fund

2023-10-26 12:23

PARIS--(BUSINESS WIRE)--Oct 26, 2023--

Sofinnova Partners Raises $200M Digital Medicine Fund

PARIS--(BUSINESS WIRE)--Oct 26, 2023--

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.

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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.

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CONTACT: Bommy Lee

Head of Communications

Sofinnova Partners

blee@sofinnovapartners.com

+33 (0) 6 47 71 38 11North America

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Kate Barrette

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+1 212 223 0561United Kingdom

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