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Venture Firm Raises $440 Million for Life Sciences

Money stack (Andrew Magill/Flickr)Sofinnova Ventures, a venture capital (VC) company in Menlo Park, California says it has completed raising funds for its next round of investments in life sciences companies. The fund, Sofinnova Venture Partners VIII, has collected or has commitments totaling $440 million.

Sofinnova says it plans to invest the funds primarily in later stage health care companies, focusing on clinical-stage drug development and spin-offs. The company is expected to continue its current strategy of making investments in both the United States and abroad, with what it calls a potentially significant portion of the fund invested in Europe.

The company’s investment portfolio includes both information technology and life sciences enterprises. Recent exits — initial public offerings or acquisitions — among life sciences companies include Anthera Pharmaceuticals, Trius Therapeutics, Amarin Corporation, Movestis (acquired by Shire), PregLem (acquired by Gedeon Richter Plc), and Vicept Therapeutics (acquired by Allergan).

Sofinnova’s announcement runs counter to a recent survey of VCs in the U.S. that claimed venture investments in the life sciences were being pulled back because of concerns over regulatory burdens. The industry newsletter Fierce Biotech quotes Sofinnova partner Mike Powell that the most of the fund’s $440 million will go for drug R&D, particularly for ophthalmology, oncology, and some neuroscience.

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Photo: Andrew Magill/Flickr

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