Sofinnova Partners SAS has created a new fund to build and support companies developing medical technologies with plans to launch six to eight new companies over the next five years. This is being enabled by an over-subscribed €82 million financing round announced on 28 September. While the target technologies haven’t been identified, the broad approach is to create companies from the ground up. Explaining this strategy, Antoine Papiernik, managing partner, said the investment group builds and supports “every company from day one.” These assets are then scaled up.
Based in Paris, London and Milan, Sofinnova manages more than €4 billion in assets across multiple industrial categories. Sofinnova MD Start IV, the new fund, is expected to expand the company’s presence in medtech across Europe and the US. Its predecessor, Sofinnova MD Start 3, raised €63 million to invest across six companies representing cardiac, vascular and general surgical technologies.
The companies have collectively raised more than €140 million in follow-on financing. They include LimFlow SA, developer of a treatment for chronic limb-threatening ischaemia, a severe form of peripheral artery disease, and PreCARDIA Inc, developer of a partially implantable device for acute decompensated heart failure. LimFlow was acquired by Inari Medical Inc of the US for up to $415 million in 2023 while PreCARDIA was taken over by US-based Abiomed Inc in 2021. The total value of the deal has been estimated at $115.5 million.
The Sofinnova MD Start investment strategy is being led by partners Anne Osdoit, Cecile Dupont and Mano Iyer.
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