The pioneering growth capital fund is the largest dedicated to biopharma and medtech companies seeking scale-up financing in Europe

With over €2 billion under management, Sofinnova Partners continues its expansion across the entire value chain of life sciences investments, from seed to later-stage

Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London and Milan, announced today the final close of the Sofinnova Crossover Fund at €445 million ($540 million USD). The fund was oversubscribed and significantly exceeded its target. This capital raise positions Sofinnova Partners as the largest crossover investor in Europe dedicated to late-stage biopharma and medtech investments.

The fund will maintain its focus on European clinical-stage companies needing scale-up capital and will also support best-in-class companies in the U.S. and elsewhere. The fund has, to date, invested in 10 high-profile companies developing unique products that address major unmet clinical needs. The initial portfolio has demonstrated outstanding progress since inception, with the majority of investments reaching positive clinical trial milestones and raising large financings, including two NASDAQ IPOs of European companies.

Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, commented: “European biopharma and medtech companies have matured tremendously in the last decade. Sofinnova Partners was the first European VC to seize the opportunity to unlock the potential of these high-growth start-ups by providing late-stage capital, building on our decades of experience funding innovative life science companies. With over €2 billion of assets under management dedicated to life science investing and an outstanding international team, Sofinnova Partners continues its expansion to partner with ambitious entrepreneurs across Europe, from company creation to late-stage developments.”

Cédric Moreau, Partner in the Sofinnova Crossover Fund, commented: “We are grateful for the continuing support of our existing and new limited partners from all over the world who have helped us reach a target significantly beyond our initial objectives. The Sofinnova Crossover Fund is the largest of its kind in Europe and the only one with a team solely dedicated to growth-stage opportunities in healthcare. There has never been more awareness of the importance of investing in our collective health and future, and we are honored to contribute to this endeavor through this fund strategy.”

The Sofinnova Crossover Fund was recognized as a front runner in this domain in the 2019 “Tibi Report” commissioned by the French government as an initiative to fuel later-stage companies in Europe.1 It was subsequently granted the “Tibi” designation, making it eligible to apply for access to €6 billion in funds earmarked for this objective, which helped attract key French institutions as limited partners.

The Sofinnova Crossover Fund has expanded its team recently and, operating from Paris and London, continues to see an exceptional flow of new investment opportunities, bolstered by the firm’s extensive global network, its leading role in Europe, and the strength of its multi-fund life sciences strategy.

Triago acted as placement agent and Clifford Chance acted as legal counsel.

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

______________________ 1 The Tibi Report was written by the Professor of Economics, Philippe Tibi, who highlighted the crucial need for scale-up financing for high-growth companies in France and Europe.

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

North America RooneyPartners LLC Kate Barrette kbarrette@rooneyco.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