Sofinnova Raises €472m To Build Europe’s Biggest Early-Stage Investment Fund
Reflects Booming Global Life Sciences VC Sector
The VC firm is making the most of a surge of capital from new and established investors who believe in the promise of European biopharma start-ups.
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Private Company Edition: Jeito says its new first fund is Europe’s largest life science-focused fund. Illumina will use its venture capital to support tools, diagnostics, therapeutics and more. Also, IASO closed a $108m series C round and Amolyt raised $80m in series C financing.
Backed by investors such as Sofinnova, Polaris and Sanofi Ventures, Muna has assembled a strong team dedicated to developing small molecules to repair neuronal dysfunction and resolve neuroinflammation.
Novo Nordisk is paying $725m to acquire the VC-backed US biotech, Corvidia Therapeutics and its promising Phase II candidate, ziltivekimab, for chronic kidney disease, but further payments could total more than $2bn.