Sofinnova Partners has successfully closed its Biovelocita II fund, raising €165 million, making it the largest pan-European biotech acceleration fund. The fund exceeded its initial target and is backed by major pharmaceutical companies including Amgen, Bristol Myers Squibb, and Pfizer Ventures. The capital will be used to support early-stage biotech startups across Europe, aiming to foster innovation in the life sciences sector. This initiative is part of a broader €1.2 billion investment strategy disclosed by Sofinnova earlier this month, which includes three new startups launched under the Biovelocita II program. The fund aims to transform healthcare through the development of academic spinouts and innovative biotech solutions.