Two years into Telethon Fund, Sofinnova builds Italy portfolio as ecosystem matures

Two years since closing a fund dedicated to genetic medicine start-ups in Italy, Sofinnova Partners has made an array of investments in a country whose ecosystem is maturing, but has room for strengthening the environment to support young biotechs.

The European firm’s Sofinnova Telethon Fund has disclosed seven investments, including gene therapy and gene editing start-ups, with Milan-based Fondazione Telethon serving as a primary source of deal flow. That puts the fund roughly halfway to its goal of about 15 deals from the €108 million ($117.4 million), 2020-vintage vehicle...