Sofinnova Partners has closed its oversubscribed Sofinnova MD Start IV fund at €82 million, expanding the firm’s medtech company-creation strategy across Europe and the United States.
The new vehicle builds on Sofinnova’s approximately 20-year history of creating medical technology companies and is expected to support the launch of six to eight new ventures over the next five years. The strategy will back companies from inception through important clinical and operational milestones while providing founders with capital and hands-on operational support. Sofinnova Partners closes overs…
Sofinnova MD Start focuses on building companies around technologies designed to address significant unmet medical needs. Its model combines clinical insight, entrepreneurial talent, financing, and operating expertise, with the investment team taking an active role in developing companies from their earliest stages.
The latest fund is larger than its predecessor, Sofinnova MD Start III, which closed at €63 million.
Companies backed through the previous fund have collectively raised more than €140 million in follow-on financing.
The portfolio includes LimFlow, which Inari Medical acquired for up to $415 million, and PreCARDIA, which Abiomed acquired.
Other companies include CorWave, which has raised more than €100 million, and BrightHeart, which has received FDA and CE Mark clearance along with an €11 million Series A financing.
Moon Surgical is another company associated with the MD Start strategy and has received FDA and CE Mark clearance for its Maestro robotic surgical system.
Sofinnova said the new fund will let it scale its company-building activities while continuing to work closely with clinicians, engineers, scientists, and entrepreneurs developing new medical technologies.
Rather than investing only after startups have formed, the MD Start strategy can get involved at the company-creation stage, helping identify technologies, develop initial business plans, recruit management teams, establish financing strategies, and move products toward clinical validation.
This model can be particularly important in medtech, where companies frequently face lengthy product-development cycles, regulatory requirements, clinical studies, manufacturing considerations, and commercialization challenges before reaching the market.
Sofinnova MD Start IV is led by partners Anne Osdoit, Cecile Dupont, and Mano Iyer.
The broader team includes Marion Gasperment, analyst Jérémie Wisniewski, and venture partners Gérard Hascoët and Josh Makower.
The strategy benefits from Sofinnova’s broader life sciences platform and international network.
Founded in 1972, Sofinnova Partners has more than 50 years of experience in life sciences investing and has backed more than 500 companies.
The firm operates from Paris, London, and Milan and invests across different stages of healthcare and life sciences development, from company creation and seed-stage investing through later-stage opportunities.
The €82 million final close gives the MD Start team additional capacity to create companies around promising medical technologies and support them through milestones that can position them for follow-on financing, strategic partnerships, commercialization, or acquisitions.
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.”
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.”
Anne Osdoit, Partner At Sofinnova Partners
