The fund will invest in companies leveraging biotechnology to develop sustainable solutions

Sofinnova Industrial Biotech II is part of the VC firm’s pioneering strategy initiated over a decade ago

November 17, 2021 01:00 AM Eastern Standard Time

PARIS--(BUSINESS WIRE)--Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London and Milan, announced today that it has raised €150 million in capital for its early-stage environmental impact fund, bringing the firm’s total assets under management to €2.5 billion across its platform of investment strategies. Sofinnova Industrial Biotech II is part of the venture capital firm’s pioneering sustainability strategy initiated over a decade ago with the launch of the Sofinnova Green Seed Fund.

The fund will continue to finance early-stage companies harnessing biotechnology to develop sustainable solutions across the food, agriculture, chemical and materials sectors. The current portfolio includes companies developing bio-based crop protection solutions (Biotalys, Micropep Technologies), upcycling agricultural waste into chemicals, food or feed ingredients (Afyren, Comet Bio), using fermentation to develop food ingredients (DMC Biotechnologies, Protera, Biosyntia, Microphyt) or biologically producing new chemicals and materials (DNA Script, EnginZyme).Joško Bobanović, Partner in the Sofinnova Industrial Biotech Fund, said: “The fundraise attests to the success of our strategy over the past decade and the growing understanding of how biotech can help to address global environmental challenges such as climate change, biodiversity, pollution, and food waste. We are grateful for the confidence demonstrated by our investors, a large majority of whom are returning and a significant number of new investors joining from across the globe, reflecting the growing importance and prioritization of this sector.”Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, said: “Sofinnova is a leader across the life sciences value chain and we were one of the first to see early on the power of biotechnology to create sustainable solutions. We have one of the most accomplished VC teams in industrial biotech and are now more empowered to continue doing what we have been doing for 50 years: Partnering with exceptional entrepreneurs to transform groundbreaking science into the businesses of the future.”About Sofinnova PartnersSofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.Founded in 1972, Sofinnova Partners is a deeply-established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: www.sofinnovapartners.com

Contacts

Media Contacts:Bommy LeeHead of Communications, Sofinnova Partnersblee@sofinnovapartners.com+33 (0) 6 47 71 38 11North AmericaRooneyPartners LLCKate Barrettekbarrette@rooneypartners.com+1 212 223 0561FranceStrategiesImageAnne Reinanne.rein@strategiesimage.com+33 (0) 6 03 35 92 05ItalyHavas PR MilanMarco Fuscomarco.fusco@havaspr.com+39 (0) 345 6538145Source: https://www.businesswire.com/news/home/20211116006481/en/Sofinnova-Partners-Raises-