Sofinnova News

    Sofinnova MD Start

    Sofinnova Partners Closes €63M ($75M) Oversubscribed Medtech Acceleration Fund

    Sofinnova Partners announced the final close of its medtech acceleration fund, Sofinnova MD Start III, at €63 million ($75 million USD).

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    Capital raise enables Sofinnova MD Start’s pioneering team to further support clinicians in transforming innovative ideas into medical realities

    Paris – July 13, 2021 - Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London and Milan, announced today the final close of its medtech acceleration fund, Sofinnova MD Start III, at €63 million ($75 million USD). The fund was oversubscribed and exceeded its original target, with new investors joining existing investors. This capital raise enables Sofinnova MD Start’s pioneering team of serial entrepreneurs to further support clinicians in transforming innovative ideas into medical realities through the development of groundbreaking therapeutic medical devices.

    The strength of Sofinnova MD Start’s unique acceleration model, with its combination of early-stage financing and company building, has been demonstrated through the creation of 10 highly innovative medtech companies and over €25 million deployed to date. Recent investments include two pre-clinical stage companies: Moon Surgical, developing an assistance platform for minimally invasive surgery, and Gradient Denervation Technologies, developing an endovascular device to treat pulmonary hypertension. Last month, a significant milestone was announced with the acquisition of preCARDIA, a company created and accelerated through MD Start II to develop an innovative solution for patients with acute decompensated heart failure.

    Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, said: “Sofinnova MD Start is a highly differentiated strategy and the only one of its kind in Europe that has demonstrated success in building significant value in the medical technology segment from a very early stage. It is an important part of the Sofinnova Partners’ platform of fund strategies, which enables the firm to expand the reach of our investments across the entire life sciences value chain.”

    Anne Osdoit, Partner in the Sofinnova MD Start Fund, said: “We are grateful for the continued support of our existing and new limited partners – their commitment is a recognition of the uniqueness of our active, hands-on approach to company building. The recent flurry of activity of the fund, including the acquisition of preCARDIA and the launch of our call for projects, reinforces the robustness and long-term success of the MD Start strategy."

    The Sofinnova MD Start team is comprised of seasoned medtech entrepreneurs and investors with extensive operational experience in high-growth early-stage medical device companies, and a successful track record of catalyzing innovative technology from conception to the clinic. The fund’s recently launched call for projects builds on a steady flow of investment opportunities via a privileged access to clinicians, scientists and experts from top hospitals and research centers around the world.

    About Sofinnova Partners

    Sofinnova 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 billion under management. For more information, please visit: www.sofinnovapartners.com

    Media Contacts:

    Bommy Lee
    Head of Communications, Sofinnova Partners
    blee@sofinnovapartners.com
    +33 (0) 6 47 71 38 11

    North America
    RooneyPartners LLC
    Kate Barrette
    kbarrette@rooneypartners.com
    +1 212 223 0561

    France
    StrategiesImage
    Anne Rein
    anne.rein@strategiesimage.com
    +33 (0) 6 03 35 92 05

    Italy
    Havas PR Milan
    Rafaella Casula rafaella.casula@havaspr.com
    +39 (0) 345 3780834

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