Sofinnova Partners closed its oversubscribed Sofinnova MD Start IV fund at €82 million to create and develop new medtech companies across Europe and the U.S. The fund extends Sofinnova’s medtech company-creation strategy and is expected to launch six to eight new ventures over the next five years.
MD Start IV will support companies from formation through key clinical and operational milestones.
The strategy combines capital with hands-on company building, clinical expertise, entrepreneurial support, and operational resources.
Sofinnova said the fund will focus on addressing significant unmet medical needs through new medical technologies.
The firm’s previous MD Start III fund raised €63 million.
That fund invested in six companies that have collectively secured more than €140 million in follow-on financing.
Portfolio companies created through the MD Start strategy include LimFlow, which was acquired by Inari Medical for up to $415 million.
CorWave has raised more than €100 million.
BrightHeart has obtained FDA and CE Mark clearance and recently raised €11 million in Series A financing.
Moon Surgical has received FDA and CE Mark clearance for its Maestro system, which has been used to treat more than 3,700 patients.
The MD Start IV strategy is led by Sofinnova Partners Anne Osdoit, Cecile Dupont, and Mano Iyer, along with other members of the investment team.
Sofinnova Partners manages more than €4 billion in assets across life sciences and sustainability strategies.
KEY QUOTES:
“Sofinnova MD Start is one of the few strategies in Europe focused on creating medtech companies from the ground up. What makes the model distinctive is the active role our team plays in building and supporting every company from day one. This latest fund will allow us to scale that approach and remain a key part of Sofinnova’s platform across the life sciences value chain.”
Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners
“We are grateful for the continued support of our existing and new limited partners. Their commitment reflects confidence in our active, hands-on approach to company building. With Sofinnova MD Start IV, we look forward to continuing to work closely with engineers, clinicians, and scientists to advance their transformative medical technologies from the lab to the clinic.”
Anne Osdoit, Partner at Sofinnova Partners
