MENLO PARK, Calif., July 23, 2014 /PRNewswire/ -- Sofinnova Ventures, a Menlo Park based investment firm, today announced the closing of Sofinnova Venture Partners IX, L.P. at the hard cap of $500 million and in excess of the initial fund target of $425 million.
Sofinnova focuses exclusively on helping entrepreneurs build successful biotechnology companies. Consistent with recent funds, SVP IX will provide capital primarily to companies with promising later stage clinical programs, along with select investments in earlier stage opportunities. Investments will focus on developing specialty pharmaceuticals and orphan disease products. Sofinnova intends to continue the firm's successful strategy of sourcing investments in both the United States and Europe.
"We value the support that our returning limited partners and new investors have shown for our strategy and the Sofinnova team," commented Jim Healy, General Partner, Sofinnova. "Sofinnova is proud to partner with talented entrepreneurs who are focused on developing innovative medicines that can positively impact patient care. We remain committed to working with our collective network to identify and develop important new drugs, build successful companies, and continue to generate significant returns for our investors."
Sofinnova recent IPOs and exits include Labrys (acquired by Teva), ZS Pharma (IPO, ZSPH), Versartis (IPO, VSAR), Aerie (IPO, AERI), Tesaro (stock sale, TSRO), SARcode (acquired by Shire), NextWave (acquired by Pfizer), Intellikine (acquired by Takeda), Hyperion (IPO, HPTX), Durata (IPO, DRTX), Amarin (stock sale, AMRN), Vicept (acquired by Allergan) and Preglem (acquired by Gedeon Richter).
The partners of SVP IX are Srini Akkaraju, MD, PhD, Jim Hea
SOURCE Sofinnova Ventures
Copyright©2014 PR Newswire.
All rights reserved
Related biology technology :
1. Edico Genome Raises $10 Million in Series A Financing to Commercialize DRAGEN Chip to Overcome Sequencing Data Analysis Bottleneck
2. Tute Genomics Raises $1.5M for Cloud-based Genome Analytics & Machine-learning for Gene Discovery
3. Curoverse Raises $1.5 Million to Build Open Source Platform for Genomic and Biomedical Big Data
4. The Holistic Sanctuary Raises Alarm About Teenage Drug Addiction
5. Immune Design Raises Up to $49 Million Series C Financing
6. Acacia Pharma Raises £15 Million ($23.5 Million) to Advance Clinical Development of Lead Products for Supportive Care
7. Intrexon Corporation Raises $150 Million for Synthetic Biology Initiatives
8. Advanced Animal Diagnostics Raises $6 Million for On-farm Diagnostics
9. OriGene Technologies Raises $21.3 Million in Series C Funding
10. Z Trim Holdings Announces Conclusion of Successful Warrant Exercise Program: Raises $2.195 Million
11. Strand Raises Series B From Burrill & Company