Sofinnova Partners is deep into digital medicine
Sofinnova Partners, a European life science venture capital firm based in Paris, London and Milan, has launched a new investment strategy focused on digital medicine.
The strategy, which has seen Sofinnova Partners invest in biotech companies, will be led by partners Edward Kliphuis and Simon Turner.
Sofinnova Digital Medicine will support entrepreneurs who innovate in cutting-edge biology and technology, and help them scale to become global leaders. Sofinnova Digital Medicine will focus on developing the most promising innovations that address systemic challenges in healthcare and can improve the lives of patients around the world.
Antoine Papiernik, chairman and managing partner of Sofinnova Partners, said: “Digital medicine is revolutionizing the healthcare industry. With our new partners, our network and our expertise across the healthcare continuum, we are uniquely positioned to help entrepreneurs develop digital products and services that will help patients, doctors and the healthcare system as a whole.”
Kliphuis, partner in Sofinnova Digital Medicine Strategy, said: “Simon and I bring our extensive experience investing and growing companies at the forefront of biological innovation coupled with powerful computing techniques to help founders achieve product-market fit and scale their companies globally. global. ”
Turner, partner in Sofinnova Digital Medicine Strategy, said: “We designed this strategy to help founders leverage our knowledge of the complex, highly regulated healthcare industry and build on the strengths of a technology industry approach such as rapid product iteration and rapid commercialization. Sofinnova Digital Medicine will respond to the challenges of overburdened healthcare systems with speed, agility and deep understanding of the patient journey.”
The launch of Sofinnova Digital Medicine marks the company’s sixth and latest strategy in a multi-funded platform spanning the life sciences sector, from seeds to next-stage investments in the most promising and disruptive technologies.
The company has also announced investments in three companies.
AI company Kiro raised €13.8 million
Kiro is a digital medicine company that develops platforms that use artificial intelligence (AI) to make laboratory test results more relevant to doctors and easier to understand for patients.
It has raised €13.8 million ($15 million) in Series A funding, with a financing round led by Sofinnova Partners. Kiro is Sofinnova Partners’ Digital Medicine Strategy first investment.
Previous investors, Bpifrance, through Fonds Ambition Amorcage Angels (F3A), and Kurma Partners, along with Propulia Capital, as well as European and US entrepreneurs and business angels, also participated in the round.
Kiro’s innovative technology leverages AI and expertise in clinical biology to provide decision-making support that allows clinicians to save time and focus more on the needs of individual patients. At the same time, the platform helps patients understand their outcomes over time, so they can be more involved in their own health care. AI models are trained on more than 26 million laboratory reports to detect early disease.
This new funding will help Kiro further develop its technology and platform, build a strong product deployment with over 150,000 monthly active users to strengthen Kiro’s leadership position in France, expand commercial operations in Europe, and prepare for entry into the US market.
“More than 70% of healthcare decisions are based on laboratory test results, but this information is still very underutilized. Kiro brings new insights by standardizing and analyzing laboratory test results to drive increased understanding of diseases and patient outcomes,” said Kiro founder and CEO, Alexandre Guenoun.
$5 million for BioCorteX to unlock bacterial-drug interactions
BioCorteX, a digital drug company that uses the Carbon Mirror platform, a first-principles computer simulation to understand drug-bacterial interactions and improve a person’s response to treatments, received a $5 million seed funding round led by Sofinnova Partners and Hoxton Ventures.
Until recently, drug development largely ignored bacterial-drug interactions resulting in futile trial failures and apparently random responses in people living with the disease. The funds will be used to further develop the company’s Carbon Mirror platform, which combines state-of-the-art physics, chemistry and computational engineering, a fusion of computer engineering, clinical insights and biology commonly referred to as “techbio”.
“The interaction between the microbiome and its host is complex and remains a challenging question that requires entirely new approaches,” said Nik Sharma, CEO and co-founder of BioCorteX.
“As clinicians, our technology aims to develop treatments that will turn someone who is not responding to someone who is responding, so that people living with the disease have confidence in the outcome.”
deepc raised €12 million
deepc, a digital medicine pioneer that gives healthcare systems flexibility to adopt and integrate third-party AI technologies into existing workflows and ultimately improve patient outcomes, raised €12 million ($13.1 million) in a Series A round led by Sofinnova Partners, along with Bertelsmann Investments and longtime investor Winning Mindset Ventures.
Proceeds from the sale will be used to drive the commercialization of the deepcOS AI operating system, and further develop simplified services to enhance the user experience for radiologists.
Enterprise DeepcOS, is a cloud-native, vendor-neutral platform that integrates seamlessly with existing radiology workflows. It provides approved third-party AI vendors with an efficient way to commercialize their solutions while offering hospitals and clinics a secure, “one-stop shop” for their AI-assisted radiology needs.