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Sofinnova raises $650 million for biotech venture fund
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Sofinnova recently announced the closing of Sofinnova Venture Partners Fund X at $650 million, according to a press release.
The biotech-focused investment firm has invested in companies in the areas of rare and orphan disease, oncology, women’s health, dermatology, ophthalmology and infectious disease since 2007, per the release.
The Sofinnova Venture Partners Fund X is the fourth fund to focus its strategy in mid- and later-stage investments. The initial fund target was set at $550 million, according to the release.
The Fund X capital was raised from existing and select new investors, according to the release Sofinnova has raised approximately $2 billion during the past decade to invest in biotech companies “that are developing drugs that address high unmet medical needs and improve the lives of patients,” according to the release.
Reference: www.sofinnova.com