Business Wire

Sofinnova Partners and Apollo Form Strategic Partnership in Life Sciences

Share

Apollo (NYSE: APO) and Sofinnova Partners (“Sofinnova"), a leading European life sciences venture capital firm based in Paris, London, and Milan, today announced a long-term strategic and financial partnership. Under the agreement, Apollo will take a minority equity interest in Sofinnova and commit up to €1 billion of managed capital to its investment funds. This strategic partnership is poised to significantly accelerate Sofinnova’s growth. For Apollo, the investment will meaningfully increase its presence in life sciences and contribute to its growth ecosystem of partners that bring specialized knowledge and networks to its integrated platform.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516005254/en/

Together, Sofinnova and Apollo will offer entrepreneurs a more comprehensive range of capital solutions to help bring new therapeutic and biotechnology-based solutions to the market. The commitment to invest up to €1 billion in Sofinnova vehicles, including future strategies the two firms may co-develop, will support companies at the forefront of life sciences innovation. Sofinnova will also gain access to Apollo’s global investment platform spanning credit, equities, real estate and other asset classes, as well as its far-reaching networks and capital markets expertise. Sofinnova will continue to operate from its Paris headquarters as an independent organization.

Sofinnova adds to Apollo’s ecosystem of investment managers focused on deep tech, fintech, digital assets and other specialized, higher growth categories where the firm does not have a historic footprint. By bringing together the broader Apollo platform with best-in-class partners, Apollo can maintain its disciplined investment approach while leveraging new sector expertise across its equity, hybrid and yield businesses, including in accretive new product development.

Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, commented: “This strategic partnership will enable Sofinnova to double down on what it does best: support innovation and build companies through long-term relationships with visionary entrepreneurs. We are poised to accelerate our strategy, solidify our position as a leading global player, and enhance our product offering to our investors – setting the stage for new levels of growth and expansion.”

Mr. Papiernik noted that Sofinnova’s portfolio companies and the entire life sciences ecosystem stand to benefit from the greater scope and scale of capital solutions, deepened expertise and broader international footprint this partnership will enable. “We look forward to working with Apollo to build the next generation of game-changing startups, while positively impacting the future through investments in healthcare and sustainability,” he said.

Scott Kleinman, Co-President of Apollo, said, “The life sciences industry continues to grow and innovate, creating significant opportunities to fund and advance new therapeutics and technologies in pursuit of better health outcomes. Today, Apollo and its affiliates manage more than $5 billion across the healthcare and life sciences industries, and we view this space as a significant growth area for the firm. Sofinnova is a clear partner of choice, with specialized knowledge and a vast industry network that is accretive to our broader investing platform. Together we can leverage our complementary strengths and cultures to form a long-term, mutually beneficial relationship.”

The transaction is subject to customary closing conditions, including prior authorization by the French Autorité des Marchés Financiers, and is expected to close in the second half of 2022. Upon close, Neil Mehta, Partner and Global Head of Strategy at Apollo, will join Sofinnova’s Board of Directors.

Triago acted as a strategic advisor, and Dechert LLP as legal advisor to Sofinnova. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Gide Loyrette Nouel are serving as legal counsel to Apollo, and Guggenheim Partners as its financial advisor.

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. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.

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 has over €2.5 billion under management. For more information, please visit: sofinnovapartners.com.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2022, Apollo had approximately $513 billion of assets under management. To learn more, please visit www.apollo.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Bommy Lee
Head of Communications
Sofinnova Partners
blee@sofinnovapartners.com
+33 (0) 6 47 71 38 11

North America
RooneyPartners LLC
Kate Barrette
kbarrette@rooneypartners.com
+1 212 223 0561

France
StrategiesImage
Anne Rein
anne.rein@strategiesimage.com
+33 (0) 6 03 35 92 05

Italy
Havas PR Milan
Pierluigi Cavarai
pierluigi.cavaraiext@havaspr.com
+39 (0) 392 77 999 33

United Kingdom
Optimum Strategic Communications
Rebecca Noonan
sofinnova@optimumcomms.com
+44 (0) 20 3922 0900

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
IR@apollo.com
(212) 822-0540

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
Communications@apollo.com
(212) 822-0491

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Positive Results of EfficAPSI Real-World Study Confirm Significant Benefit of Sublingual Liquid AIT Treatment on the Onset and Worsening of Asthma in Patients With Allergic Rhinitis2.7.2022 15:08:00 CEST | Press release

Stallergenes Greer, a global healthcare company specialising in allergen immunotherapy (AIT), today announced positive data from its EfficAPSI real-world study. Presented at the 2022 European Academy of Allergy and Clinical Immunology (EAACI) congress in Prague (Czech Republic), the real-world study confirmed significant benefit of sublingual liquid allergen immunotherapy treatment (AIT) on the onset and worsening of asthma in patients with allergic rhinitis. The retrospective longitudinal pharmaco-epidemiological real-world study included over 430,000 patients: more than 100,000 patients with allergic rhinitis with or without asthma treated with sublingual liquid immunotherapy and symptomatic drugs; compared to more than 330,000 patients with allergic rhinitis with or without asthma treated with symptomatic drugs only. The primary objective of the study was the evaluation of the impact of sublingual liquid AIT on the onset and worsening of asthma in patients with allergic rhinitis. St

Boyd Acquires Sensata’s Thermal Test and Controls Business1.7.2022 17:29:00 CEST | Press release

Boyd, a world-leading innovator of technologies in engineered materials and thermal management, announced it acquired Sensata’s Thermal Test and Controls Business (NYSE:ST). This business specializes in the design and manufacturing of advanced thermal control systems, adapters, and sockets critical to the thermal test process for high-end logic and memory semiconductors. With a long history of serving leading global semiconductor companies, the addition complements Boyd’s existing thermal business, which includes air and liquid cooled thermal management technologies. Boyd designs and manufactures complex thermal solutions for high-performance semiconductors used in applications such as 5G, hyperscale data center, eMobility, and artificial intelligence. With this acquisition, Boyd expands its offering to current semiconductor customers by adding advanced controls and thermal test systems essential to the production of high-end memory and logic devices. “This acquisition is a natural fit

IFF Completed Divestiture of Microbial Control Business1.7.2022 15:45:00 CEST | Press release

IFF (NYSE:IFF) today announced that it has successfully completed the previously announced divestiture of its Microbial Control business unit to LANXESS. Welcome to IFF At IFF (NYSE: IFF), an industry leader in food, beverage, health, biosciences and scent, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet.Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn. © 2022 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved. View source version on businesswire.com: https://www.businesswire.com/news/home/20220630005790/en/Contact information Michael DeVeau Chief Investor Relations

Digi International Unveils Digi XBee LR Module for LoRaWAN Connectivity for IoT Deployments1.7.2022 15:00:00 CEST | Press release

Digi International®, (NASDAQ: DGII), a leading global provider of Internet of Things (IoT) connectivity products, solutions, and services, today unveiled the Digi XBee® LR, the first XBee-class pre-integrated and pre-certified wireless communication module for sensors and end-nodes using LoRaWAN. Coupled with the rich connectivity, device and gateway management capabilities of Digi X-ON™—its Low-Power Wide Area (LPWA) IoT data cloud platform—Digi provides a complete IoT solution with automated provisioning and deployment to help enterprises achieve significant ROI and faster market access. The Digi XBee LR module brings a new connectivity option to one of the most widely adopted wireless IoT module footprints, with more than 20 million devices deployed. This fully developed, tested, and certified module gives OEMs the freedom to create innovative public- or private-cloud solutions for organizations in agriculture, energy, logistics, manufacturing, utilities, and other sectors. These ap

Juniper Networks Announces Cloud Metro Innovation to Drive Sustainable Business Growth for Service Providers1.7.2022 14:35:00 CEST | Press release

Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today announced the innovation that will power its vision and strategy for Cloud Metro – a new category of solutions for service providers, optimized for metro transformation and sustainable business growth. Traditional “retro” metro networks are device-centric and are buckling under the extreme scale, agility and experience demands that widespread digital transformation and the advent of 5G services are bringing. Today’s announcement focuses on enabling sustainable business growth, with a series of high-performance networking systems, powered by AI-enabled, cloud-delivered automation, specifically designed to build next generation Cloud Metro infrastructure. These systems will deliver significantly-reduced natural resource consumption capabilities to help sustain the planet, improved tools and simplified working methods to help sustain over-pressured operations teams, along with embedded service assurance and secur

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom