In a fundraising environment marked by cautious institutional investors, tightening belts, and widespread scepticism about early-stage venture capital, Sofinnova Partners has just closed its flagship Capital XI fund at €650 million, significantly exceeding its initial target of €500 million. What does this signal about the state of healthcare innovation funding in 2025?

In this episode of BioBiz Buzz, your host Mike Ward sits down with Antoine Papiernik, Managing Partner and Chairman of Sofinnova Partners, to unpack one of the most significant European life sciences venture capital announcements of the year.

Together, they explore why leading pharma companies, sovereign wealth funds, and top-tier institutional investors are doubling down on early-stage biotech and medtech when the broader VC market is under pressure. 

Moreover, they discuss Sofinnova's disciplined, science-driven investment strategy, the geographic and therapeutic opportunities driving Capital XI deployments, and what the €1.5 billion raised across Sofinnova's platform over the past year reveals about institutional confidence in healthcare innovation.

More importantly, what does Sofinnova's oversubscription mean for the future of early-stage healthcare ventures as they head into 2026?

Whether you're an entrepreneur seeking funding, an industry strategist tracking market dynamics, or an investor evaluating the early-stage healthcare landscape, this conversation provides critical insights into where the smart money is being invested and why. 

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