Biovelocità II by Sofinnova Raises 165 Million and Invests in Bioclec

One hundred and sixty-five million euros. The collection of the biotech acceleration fund Biovelocità II by Soffinnova partners, a European venture capital active in the life sciences sector, exceeds expectations.

The credit also goes to the support received from some of the major global pharmaceutical companies including: Amgen, Brystol Meyers Squibb and Pfizer. The capital raised for Biovelocità II will serve to expand Sofinnova’s acceleration strategy, widening its scope of action beyond Italy, in France, the United Kingdom, Denmark and, in the future, to other European countries.

The activity of the Biovelocità II fund

Led by Gabriella Camboni, Matthieu Coutet, Alex Leech and Zhizhong Yao, Sofinnova Biovelocita II is the largest pan-European accelerator dedicated to creating, building and operating the next generation of biotech startups.

Since its launch, the fund has already evaluated over 300 projects and completed numerous investments in new European companies that promote cutting-edge innovations in biotech.

First investments announced

Among them is Bioclec – whose launch was announced at the same time as the fundraising – a biotech active in the field of therapies to combat Alzheimer’s. It is developing targeted therapies on microglial cells – the brain’s immune system – for the treatment of a disease that affects millions of people worldwide.

In addition, there are Forth Therapeutics which is developing next-generation precision therapies for fibrosis and Signadori Bio a novel cell therapy platform based on research from the Gustave Roussy Institute.

The Biovelocità II fund promotes innovation

Graziano Seghezzi , managing partner of Sofinnova Partners, commented: “We have developed a pan-European strategy with a world-class team to create and operate companies in the European biotech ecosystem building on the success of Biovelocita I in Italy. The incredible response from our pharmaceutical partners and the fact that we exceeded our funding target demonstrate the validity of our approach. This achievement highlights our commitment to fostering innovation, supporting visionary entrepreneurs and shaping the future of healthcare.”

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(Featured image by Louis Reed via Unsplash)

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