BioCentury
ARTICLE | Finance

Sofinnova crosses over

Why Sofinnova Partners has branched out with its first crossover fund

April 4, 2018 12:45 PM UTC

Sofinnova Partners raised its first crossover fund to attract international investors to late-stage EU biotechs, with the goal of bringing the best to the U.S. market.

On April 4, Sofinnova announced the close of Sofinnova Crossover I at €275 million ($340.5 million), above the original €250 million target. The new fund brings Sofinnova’s total assets under management to €1.9 billion ($2.4 billion), the majority of which comprise Sofinnova’s early stage Capital funds. In December 2015, the firm closed Sofinnova Capital VIII at €300 million ($324.6 million)...