Sofinnova Ventures Inc., a California venture firm with $1.4 billion under management, raised $440 million to invest in health-care companies and experimental drugmakers, the largest fund for the industry this year. Sofinnova will seek out companies with drugs already in clinical trials, as well as purchase therapies developed by other pharmaceutical companies, said Garheng Kong, a general partner at the Menlo Park, California-based firm. “The initial target was $325 million,” Kong said in a telephone interview. “Obviously we over-subscribed that, and had excess demand.”
To read the full, original article click on this link: Sofinnova Raises Largest Life Sciences Venture Fund This Year - Bloomberg
