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October 31, 2023

Sofinnova Partners Elevates Digital Medicine with $200 Million Fund

The Paris-based vanguard of European life sciences venture capital, has triumphantly sealed an extraordinary $200 million

In the ever-evolving landscape of life sciences and venture capital, Paris-based Sofinnova Partners emerges as a trailblazer with the closure of the Sofinnova Digital Medicine I fund, exceeding its target at an impressive $200 million. Spearheaded by Partners Edward Kliphuis and Simon Turner, this fund ushers in a new era of investment dedicated to empowering visionary entrepreneurs navigating the convergence of biology, data, and computation. In this age of digital transformation, the fund focuses on three pivotal areas: enabling technologies, analytics, and treatment, opening the doors to groundbreaking innovations poised to reshape the future of healthcare.

Sofinnova Partners' Digital Medicine Strategy arrives at a transformative moment in healthcare, one driven by digital advancements. This visionary fund serves as a beacon for entrepreneurs seeking to revolutionize the industry. It provides not just financial backing but also the wealth of expertise and extensive healthcare networks that entrepreneurs need to tackle global healthcare challenges and enhance patient outcomes on a global scale.

The Digital Medicine fund has already made its mark by welcoming two dynamic companies into its portfolio:

  1. L'école AI: Founded by a former Twitter Cortex founding team member, this visionary company simplifies the deployment of deep-learning systems for computer vision in life sciences applications, unlocking new horizons for the industry.
  2. Betteromics: With their "Omics AI Cloud," they unite disparate health and omics data into a single source of truth via a certified SaaS platform. The founding team brings formidable expertise from GRAIL, Verily, and Google's Search Knowledge Graph.

Sofinnova Partners, managing over €2.5 billion, actively partners with audacious entrepreneurs as a lead or cornerstone investor to nurture transformative innovations that hold the potential to positively shape the collective future. Antoine Papiernik, Sofinnova's Chairman and Managing Partner, emphasizes the significance of their latest fund: "The successful closing of Sofinnova Digital Medicine I above its target size marks yet another milestone in our growth as a global firm fostering disruptive innovations in life sciences. This newest fund in our platform of investment strategies is a testament to the trust our limited partners place in our vision and to Sofinnova's long-standing commitment to shaping the future of healthcare."

Edward Kliphuis, Partner at Sofinnova, underscores the rapid progress, stating, "In just a few months since launching this strategy, we've executed five investments into transformative companies. Leveraging our expertise and network, we serve as allies to digital medicine pioneers, enabling them to secure product-market fit and scale on a global stage."

Simon Turner, Partner at Sofinnova, adds, "Our goal is to support innovators developing disruptive solutions for patients and health systems. We bring Sofinnova's deep healthcare expertise to entrepreneurs pioneering at the forefront of digital medicine where biology meets tech-industry approaches."

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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