BioCentury
ARTICLE | Finance

Ebb & Flow

March 2, 2009 8:00 AM UTC

If LPs like to see results before investing their money, Sofinnova's chances of hitting the target for its Sofinnova Capital VI fund were boosted last week when the French VC sold medical device company CoreValve from its Sofinnova Capital IV portfolio to Medtronic for $700 million.

"This is our largest result in value terms in 35 years and represents a return in excess of 10X," Managing Partner Antoine Papiernik told Ebb & Flow. Sofinnova was the largest shareholder in the company...