Sanofi Strengthens Venture Capital Budget
As well as serving as a financial partner to fledgling companies, the VC fund supports future efforts for business development and M&A opportunities within its own operations, Sanofi said. The fresh capital injection will also fuel the expansion and investment capacity of its own investment team on a global scale.
Commenting on the funding upgrade, Sanofi CEO Paul Hudson said the company’s commitment signals its accelerated ambitions in the venture capital community and its continued desire to collaborate with global innovators in the best interests of patients.
In 2022, the Sanofi fund closed 10 investments in global therapeutic and digital areas that reflect its strategic interests. To date, 80% of the investments have been in biotherapeutics and 20% in digital health companies.
The French drugmaker’s investment team partners with private companies across all stages of the lifecycle, from Seed to Series B and beyond, lending a financial leg up to those focusing on areas of treatment in such as immunology and inflammation diseases, along with oncology, cell and gene therapy, vaccines and digital health and data science.
Author: Dede Williams, Freelance Journalist
