Apollo Global Management, Inc., a leading investment management firm based in the U.S., has recently entered into a long-term strategic and financial partnership with European life sciences VC firm Sofinnova Partners to extend its presence in the life sciences domain.
As per the agreement, Apollo will be taking a small equity interest in Sofinnova and devoting nearly €1 billion (USD 1.05 billion) of capital to its investment funds.
The strategic collaboration is slated to accelerate Sofinnova’s growth. As for Apollo, the investment will support the company in increasing its stance in life sciences and support its growth environment of partners who bring forward dedicated knowledge and networks to its platform.
Jointly, both Sofinnova and Apollo will be providing entrepreneurs a wide range of capital solutions for bringing new therapeutic and biotechnology-based solutions to the market.
The commitment to investing €1 billion (USD 1.05 billion) in Sofinnova vehicles coupled with the strategies planned for future may support the two firms to build and support organizations at the vanguard of life sciences invention.
Sofinnova will also be obtaining admittance to the global investment platform of Apollo’s spanning credit, real estate and equities, and other asset classes and its far-reaching capital markets and network expertise.
Sofinnova is a key addition to Apollo’s network of investment managers focused on fintech, deep tech, digital assets, and other specialized and higher growth categories where the firm is not having a significant footmark.
By bringing its platform with top-class partners, Apollo can maintain its investment approach while leveraging new sector expertise across its hybrid, equity, and yield businesses, including new product development.
Furthermore, the transaction is subjected to closing conditions, including preceding approval by the French Autorité des Marchés Sponsors, and is estimated to close in the second half of 2022.
Upon closing, Partner and Global Head of Strategy at Apollo, Neil Mehta, will join Sofinnova’s Board of Directors.
Source Credit - https://www.businesswire.com/news/home/20220516005254/en/Sofinnova-Partners-and-Apollo-Form-Strategic-Partnership-in-Life-Sciences