Sofinnova raises EUR 240 million for eighth fund

Sofinnova Partners closed its Sofinnova Capital VII fund, the firm's first life sciences-only fund, at EUR 240 million ($309.8 million). Sofinnova will invest the fund in biopharmaceuticals, medtech and industrial biotechnology, with about two-thirds of the fund to be invested in Europe and the reminder primarily in the U.S. Investors in the fund included pension funds, fund of funds and insurance companies, including the European Investment Fund; Skandia Life Insurance Company; CNP Assurances; and CDC Enterprises. Asanta Capital Group was placement agent. ...