Sofinnova Partners Launches Healthcare Crossover Fund With €275 Million ($340 Million)
Sofinnova Partners, a leading European venture capital firm specialized in Life Sciences, announced today the launch of Sofinnova Crossover I with €275 million ($340 million), above the original first close target of €250 million. With this new fund, Sofinnova Partners goes one step further in the execution of its growth plan, aimed at expanding its coverage across the Life Sciences space with dedicated sector teams.
Pursuing a strategy Sofinnova Partners has successfully applied for decades with its early-stage focused Capital Funds, Sofinnova Crossover I will invest in the biopharmaceutical and medical device sectors. The fund will focus primarily on therapeutic and game-changing companies driven by experienced management. As a lead or cornerstone investor, the fund will seek to invest in about15 late stage private and public companies. About 80% of the investments will be made in European companies, with the remaining 20% outside of Europe primarily in North America. A dedicated, highly experienced team of four partners will invest Sofinnova Crossover I, leveraging on Sofinnova Partners’ wider experience, track record and organizational support. This new fund attracted premier international investors, predominantly sovereign funds, insurance companies, corporations and family offices. Commitments came from Europe, including France, Italy, Denmark, Ireland, and Switzerland but also from Asian investors in China and Singapore. In addition to Bpifrance* and CNP Assurances, investors include a major Chinese biopharmaceutical company, the Danish State Investment fund, and family offices like Fidim or KCK representing leading industrial families in Europe and Asia.
Antoine Papiernik, Chairman of Sofinnova Partners, said “With the launch of this new crossover activity, Sofinnova builds upon its unique early stage track record. Many of the companies we initially funded have become over the years large, billion-euro companies, and we have gained invaluable experience in helping them to the next level. This fund will complete our investment platform across the life-sciences value-chain, allowing us to fund companies from the seed stage to the late-stage.”
Jacques Theurillat, Partner in the crossover team at Sofinnova Partners, added: “The European healthcare market has matured with hundreds of late stage private and public companies looking for growth capital, and Sofinnova Partners, with its name, track record and experience, is particularly well positioned to identify the best European deals and transform them into global leaders.”
Triago acted as placement agent and Clifford Chance acted as legal counsel on Sofinnova Crossover I.
* Bpifrance directly and with the “Investment for the Future” Program, managed by the SGPI and operated by Bpifrance
Press contact for SOFINNOVA PARTNERS
Anne REIN, Tel: +33 (0)6 03 35 92 05
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Planview Empowers Organizations to Realize Agile-at-Scale with Lean and Agile Delivery Solution18.2.2019 18:05:00 | Tiedote
Today’s increasingly competitive and disrupted markets require teams and enterprises to adapt quickly and speed delivery of innovative products, solutions, and customer experiences. While agile ways of working have produced positive results on single teams, leveraging Agile across the organization creates a challenge – how to scale delivery across teams for larger initiatives and focus on business outcomes for driving change and results. The Planview® solution for Lean and Agile delivery solves this challenge by connecting agile delivery with strategic planning and lean portfolio management to achieve business objectives faster. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190218005030/en/ The Planview solution for Lean and Agile delivery connects strategic planning, lean portfolio management, and work delivery. (Graphic: Business Wire) “When Planview came together with LeanKit® in December 2017, we significantly expanded
The University of Luxembourg Launches a Unique Interdisciplinary Space Master in Line with the Government’s SpaceResources.lu Initiative18.2.2019 17:07:00 | Tiedote
In fall 2019, the University of Luxembourg launches a two-year Interdisciplinary Space Master program. This Master study program, set up in collaboration with the Luxembourg Space Agency, aims to provide students with the engineering skills required in the burgeoning space industry, along with in depth knowledge to manage space-related business activities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190218005215/en/ Etienne Schneider, Deputy Prime Minister and Minister of the Economy ; Stéphane Pallage, Rector of the University of Luxembourg ; Claude Meisch, Minister for Higher Education and Research © University of Luxembourg (Photo: Business Wire) In 1985, a public-private partnership effort launched Société Européenne des Satellites, today known as global satellite operator SES. Over the last decades, further space-related services and businesses have developed alongside SES shaping a vibrant space economy. As a leader
Wipro Launches QuMiC to Accelerate Migration to Oracle Cloud18.2.2019 16:55:00 | Tiedote
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced the launch of QuMiC (Quick Migration to Cloud), a comprehensive platform designed to transform the way organizations migrate to Oracle Cloud. Using QuMiC, Wipro and Oracle aim to simplify and accelerate the journey to Oracle Cloud for their customers. Wipro is a Platinum level member of Oracle PartnerNetwork (OPN). Wipro’s QuMiC is a unique platform that migrates all aspects required for a cloud implementation, i.e. process definitions, configurations, data, and code to Oracle Cloud for a wide variety of software environments. Irrespective of whether an organization’s original assets are in an on-premise platform such as Oracle E-Business Suite, a version management tool, or another cloud software-as-a-service (SaaS) environment, QuMiC can automate and thereby, seamlessly accelerate the migration process. The platform reduces the
Top Mobility Firms Combine to Form Sterling Lexicon18.2.2019 16:47:00 | Tiedote
Two of the mobility industry’s most trusted leaders – Lexicon Relocation and Sterling Mobility – this week announced the launch of their new brand, Sterling Lexicon. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190218005205/en/ In mid-2018, Lexicon Relocation acquired Sterling Mobility, expanding their combined global footprint and service offerings in the mobility marketplace. After six months of integration, the companies have rolled out as one unified, global brand. The integration of the two companies enables Sterling Lexicon to deliver end-to-end services around the world. Focused on personalized, high-touch and quality solutions, Sterling Lexicon’s global employees expertly manage any relocation needs for private and corporate customers. “Individually, Lexicon and Sterling were highly regarded in the relocation industry, with a reputation for outstanding customer service. Together, we bring an unparalleled level of c
Saudi Arabia Ministry of Health and Masimo Announce Automation of National Neonatal CCHD Screening Process Using Masimo Technology18.2.2019 16:00:00 | Tiedote
Recently at Arab Health 2019, the Saudi Arabia Ministry of Health (MOH) and Masimo (NASDAQ: MASI) jointly announced the implementation of an automation solution designed to streamline the process of critical congenital heart disease (CCHD) screening of newborns using Masimo SET®, the first automation of its kind worldwide. This latest phase in Saudi Arabia’s national CCHD screening program, which began in 2016 as part of the Vision 2030 plan addressing improvements in healthcare and other areas, automates the collection and storage of screening data, helping to make the process both more efficient and more accurate. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190218005021/en/ Masimo Rad-97™ with Eve™ (Photo: Business Wire) In 2016, Saudi Arabia implemented a mandatory CCHD screening program for all newborns using the Masimo Eve™ Newborn Screening Application on Radical-7® Pulse CO-Oximeters® with SET® Measure-through Moti
Milrem Robotics’ THeMIS UGV Strengthens Its Position as The Industry Standard18.2.2019 16:00:00 | Tiedote
The unmanned warfare systems developer Milrem Robotics is the most represented company in its field at this year’s IDEX with the widest selection of different weaponized unmanned ground systems on display. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190218005105/en/ Together with industry partners MBDA, Electro Optic Systems, ST Engineering and Nexter, Milrem Robotics is exhibiting four different weaponized unmanned ground systems at the main defence event in the Middle East. All systems are integrated onto Milrem Robotics' THeMIS unmanned ground vehicle. (Photo: Business Wire) Together with industry partners MBDA, Electro Optic Systems, ST Engineering and Nexter, Milrem Robotics is exhibiting four different weaponized unmanned ground systems at the main defence event in the Middle East. All systems are integrated onto Milrem Robotics’ THeMIS unmanned ground vehicle. On display are two completely new weaponized UGVs – the
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme