Corriere della Serra interviews Graziano Seghezzi after Sofinnova Partners signs deal with Apollo

The leading Italian daily Corriere della Serra described Sofinnova Partners' deal with Apollo as "one of the most important moves in recent years" for European venture capital.

The Sofinnova Managing Partner Graziano Seghezzi explained the logic of the deal to reporter Fabio Sottocornola: "Our idea is to remain completely independent in all decisions and investments," he said, adding that while Apollo would have a representative on the board, the American company would not have a say in investment or operational decisions.

Turning to the topic of his native Italy, Seghezzi explained that the biotech start-up scene is robust there, especially spin-outs coming from the academic sphere. The real challenge, he said, was in the scale-up stage. Italian biotechs, he said, would eventually need investments of between €20 million and €100 million. "Apollo can count on more than 1,500 investors on its books: this opens the door to worldwide fundraising," Seghezzi added.

In closing, the article highlighted the fact that the investment coincided with the first-ever Milan edition of Bioequity Week, a closed-door event that brings together venture capitalists, scientists and investors from all over the world.