We are highly active in the UK life sciences sector, investing in innovative companies both through funds and directly. We want all high potential companies to be able to access the capital they need from initial innovation to full expansion and maturity. For that, we need more funds with deeper pools of capital to be investing in the UK and providing funding at the all-important growth stage. Sofinnova Capital XI will do exactly that.
British Business Bank commits €30 million to Sofinnova Partners’ €650 million Capital XI fund
The British Business Bank has announced a €30 million commitment to Sofinnova Partners (Sofinnova) new €650 million ($750 million) fund, Sofinnova Capital XI.
Established in 1972, Sofinnova is a leading pan-European venture capital firm with a track record of successfully translating life sciences discoveries into new treatments for patients. The British Business Bank has a relationship with Sofinnova through coinvesting alongside them into UK companies, including Tenpoint Therapeutics, Myricx Bio and Purespring Therapeutics.
The new fund will back a new generation of pioneering biopharmaceutical and medical technology companies addressing unmet medical needs, participating in both initial and follow-on rounds. The commitment supports the UK’s Life Sciences Sector Plan and is the latest in the British Business Bank’s extensive work to support UK life sciences companies.
Sofinnova Capital XI attracted support from a global base of institutional investors across Europe, North America, Asia, and the Middle East – among them leading pharmaceutical companies and other corporates, as well as insurance companies, foundations, and family offices.
Christine Hockley, Managing Director and Co-Head of Funds, said,
Mark Andrews, Investment Director, Funds, Life Sciences, British Business Bank, said,
Sofinnova is a key player in life sciences venture. Our commitment to them will create further investment into UK life sciences and help solidify the manager’s connection to the UK. We are pleased to formally welcome Sofinnova to the Bank’s portfolio and look forward to seeing the breakthroughs that come from this fund.
Antoine Papiernik, Managing Partner and Chairman of Sofinnova Partners, said,
This fundraising marks a pivotal moment for Sofinnova. It gives us the firepower to double down on early-stage opportunities and reinforces our uniquely collaborative, science-driven investment approach. We’re excited to continue backing visionary entrepreneurs and advancing the next wave of breakthroughs in science and medicine to bring them to patients worldwide. Achieving this milestone in today’s volatile fundraising environment speaks to the strength of our model and the confidence our investors continue to place in us.
