European life sciences venture capital firm Sofinnova Partners announced the final close of its biotech accelerator fund, Sofinnova Biovelocita II, successfully raising $180 million (€165M).
The fund has exceeded its target, with substantial backing from the top global pharma companies, including Amgen, Bristol Myers Squibb, and Pfizer Ventures.
The fund is an expansion of Sofinnova’s biotech acceleration strategy, the first of which was focused in Italy, extending it to include France, the UK, and Denmark, with ambitions to further reach additional European countries in the future.
Among the newly established companies are BioClec, focused on novel therapies targeting microglia, the brain’s immune cells, to treat Alzheimer’s disease; Forth Therapeutics, a spin-out of the University of Edinburgh, which is advancing next-generation precision therapeutics for fibrosis; and Signadori Bio, a novel cell therapy platform, developed from research at the Gustave Roussy Institute.
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