PARIS, Oct 19 (Reuters) - European venture capital firm Sofinnova Partners said it had raised 472 million euros ($549.7 million) to form what it described as Europe's largest early-stage healthcare venture capital fund, which will focus on start-up firms in the sector.
Sofinnova said it had now raised 1 billion euros in the last 12 months across its expanding life science investment platform. Its latest Capital X fund will invest in the most promising biopharmaceutical and medical device start-ups, it added.
"The close of Capital X, significantly oversubscribed and raised in record time, comes at a pivotal moment as the importance of healthcare innovation has become exceedingly clear to all," said Sofinnova Chairman Antoine Papiernik.
($1 = 0.8587 euros) (Reporting by Sudip Kar-Gupta; Editing by Kim Coghill)
