Pharmaceutical firm Sanofi has made its first commitment to an external fund, providing €50m ($59m) in capital for France-headquartered life sciences investment firm Jeito Capital.
Jeito Capital invests in biotech and biopharmaceutical product developers and operates as part of a larger organisation that includes a foundation which supports medical innovations by female entrepreneurs.
The fund’s recent deals include co-leading a $110m series A round for T-cell therapy developer Neogene Therapeutics and backing a $52.8m round for ocular therapy developer SparingVision.
Sanofi’s investment was made through a larger commitment to support healthcare innovation in its home country of France.
Paul Hudson, chief executive of Sanofi, said: “This investment provides Sanofi with access to the very best in French and European healthcare innovation and reinforces our commitment to investing in our medium and long-term development pipeline.
“We strongly believe in the potential of France and Europe to become a world-class hub for innovation in life sciences, which just needs the appropriate conditions and a stimulating environment in order to thrive.”
