Sofinnova Raises €165M to Back European Biotech Startups

Sofinnova Partners, a European life sciences venture capital firm, has closed its Biovelocita II fund at €165 million, surpassing its original target. The fund attracted backing from major pharmaceutical companies, including Amgen, Bristol Myers Squibb, and Pfizer Ventures. Biovelocita II marks an expansion of Sofinnova’s biotech acceleration strategy beyond Italy to include France, the United Kingdom, and Denmark, with plans to further extend across Europe.

Since its launch, the fund has screened over 300 projects and invested in several new biotech companies focused on therapeutic innovation. Among these are BioClec, which is working on therapies for Alzheimer’s disease; Forth Therapeutics, a University of Edinburgh spin-out developing precision treatments for fibrosis; and Signadori Bio, which is advancing a novel cell therapy platform based on research from the Gustave Roussy Institute.

Graziano Seghezzi, Managing Partner at Sofinnova Partners, highlighted that Biovelocita II builds on the success of Biovelocita I in Italy, reflecting strong interest from pharmaceutical partners and investors. Seghezzi noted that exceeding the fundraising target underscores demand for a strategic, pan-European approach to biotech acceleration.

Biovelocita team; Source: Sofinnova Partners

Biovelocita II is managed by partners Gabriella Camboni, Matthieu Coutet, Alex Leech, and Zhizhong Joel Yao. The fund is described as a major pan-European biotech accelerator, offering scientific founders management support, financial backing, and access to Sofinnova’s network and infrastructure. This model is designed to support the creation and scaling of biotech startups, combining expertise in biotech and medtech gained over more than a decade of startup acceleration.

Sofinnova Partners, founded in 1972, manages over €4 billion in assets and has backed more than 500 companies globally. The firm has a long track record of supporting early-stage and growth-stage biotech ventures, with offices in Paris, London, and Milan. The Biovelocita II fund strengthens Sofinnova’s position as a key player in European biotech funding and company creation.

Topics: Bioeconomy & Society