Sofinnova draws outsized LP interest in new €650M flagship fund

Sofinnova Partners’ Antoine Papiernik sees the firm’s latest and largest fund as a vote of confidence in the European life sciences ecosystem and biotech in general, with M&A appetite as a key driver of the need for continued innovation from start-ups.

The new €650 million ($755.9 million) Sofinnova Capital XI is about 38% larger than Sofinnova’s Fund X, which came in at €421 million in 2021. As with prior funds, the firm expects to invest about 70% in Europe, and the balance in U.S. start-ups...