Sofinnova Partners Closes €165M Biotech Acceleration Fund with Strong Pharma Support
European life sciences investment firm Sofinnova Partners has announced the final close of its second biotech acceleration fund, raising €165 million and surpassing its original target. The fund, Sofinnova Biovelocita II, now holds the title as the largest pan-European initiative of its kind, with substantial pharma support from industry giants including Amgen, Bristol Myers Squibb, and Pfizer Ventures.
The closure signals a major step forward in Sofinnova’s effort to fast-track biotech innovation across Europe. What began as a national strategy in Italy with Biovelocita I has evolved into a broader cross-border initiative that now spans France, the United Kingdom, Denmark, and potentially other countries in the near future.
Since its launch, Sofinnova Biovelocita II has already reviewed over 300 biotech projects and greenlit several investments. Among the newly formed companies are BioClec, which is exploring novel treatments for Alzheimer’s disease; Forth Therapeutics, a precision medicine venture addressing fibrotic disorders, spun out of the University of Edinburgh; and Signadori Bio, a cell therapy platform developed in partnership with the Gustave Roussy Institute in France.
Graziano Seghezzi, Managing Partner of Sofinnova Partners, added that “Building on the success of Biovelocita I in Italy, we have now developed a pan-European strategy and assembled a world class team to create and manage companies across the European biotech ecosystem. The strong response from our pharmaceutical partners and the fact that we exceeded our fundraising target underscore the demand for such an approach. This achievement highlights our commitment to fostering biotech innovation, supporting visionary entrepreneurs, and shaping the future of healthcare.”
With several companies already operational and more in the pipeline, Sofinnova is expected to announce additional ventures in the coming months.
