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British Business Bank commits €30 million to Sofinnova Partners’ €650 million Capital XI fund

Press release 17 November 2025

The British Business Bank has announced a €30 million commitment to Sofinnova Partners (Sofinnova) new €650 million ($750 million) fund, Sofinnova Capital XI. 

Established in 1972, Sofinnova is a leading pan-European venture capital firm with a track record of successfully translating life sciences discoveries into new treatments for patients. The British Business Bank has a relationship with Sofinnova through coinvesting alongside them into UK companies, including Tenpoint Therapeutics, Myricx Bio and Purespring Therapeutics.

A portrait of the team from Sofinnova partners

The new fund will back a new generation of pioneering biopharmaceutical and medical technology companies addressing unmet medical needs, participating in both initial and follow-on rounds. The commitment supports the UK’s Life Sciences Sector Plan and is the latest in the British Business Bank’s extensive work to support UK life sciences companies.

Sofinnova Capital XI attracted support from a global base of institutional investors across Europe, North America, Asia, and the Middle East – among them leading pharmaceutical companies and other corporates, as well as insurance companies, foundations, and family offices. 

Christine Hockley, Managing Director and Co-Head of Funds, said, 

We are highly active in the UK life sciences sector, investing in innovative companies both through funds and directly. We want all high potential companies to be able to access the capital they need from initial innovation to full expansion and maturity. For that, we need more funds with deeper pools of capital to be investing in the UK and providing funding at the all-important growth stage. Sofinnova Capital XI will do exactly that.

Mark Andrews, Investment Director, Funds, Life Sciences, British Business Bank, said, 

Sofinnova is a key player in life sciences venture. Our commitment to them will create further investment into UK life sciences and help solidify the manager’s connection to the UK. We are pleased to formally welcome Sofinnova to the Bank’s portfolio and look forward to seeing the breakthroughs that come from this fund.

Antoine Papiernik, Managing Partner and Chairman of Sofinnova Partners, said, 

This fundraising marks a pivotal moment for Sofinnova. It gives us the firepower to double down on early-stage opportunities and reinforces our uniquely collaborative, science-driven investment approach. We’re excited to continue backing visionary entrepreneurs and advancing the next wave of breakthroughs in science and medicine to bring them to patients worldwide. Achieving this milestone in today’s volatile fundraising environment speaks to the strength of our model and the confidence our investors continue to place in us.

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Notes to editors

About the British Business Bank

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.

The British Business Bank’s core programmes support £23bn 1 of finance to almost 64,000 2  smaller businesses.

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at British Business Bank.

The above transaction is operated by British Patient Capital Limited, a wholly owned commercial subsidiary of British Business Bank plc.

British Patient Capital Limited is registered in England and Wales with company number 11271076, and registered office at Steel City House, West Street, Sheffield, S1 2GQ. British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party in respect of Sofinnova or its products or services.

About Sofinnova Partners 

Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. 

Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners manages over €4 billion in assets. For more information, please visit: Soffinova Partners.

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