InnoBio, a biotech fund managed by CDC Entreprises, and Sofinnova Partners have announced a joint investment in MedDay for 8 million euros ($10.5 million). Created in 2011 by Dr Frédéric Sedel and Dr Guillaume Brion, MedDay is specialised in the treatment of neuro-metabolic diseases.

Sofinnova Partners has raised 240 million euros ($312 million) for its seventh life sciences venture capital fund. Sofinnova Capital VII‘s investors include leading the European Investment Fund, Skandia Life Insurance Company, CNP Assurances, and CDC Entreprises. Sofinnova Capital VII will invest about two third of its funds in European companies, and one third outside of Europe, most often in the USA.

The Brussels-based, publicly traded chemical group Solvay has made an investment of five million euros in a new, Green Seed Fund, launched by the venture capital firm Sofinnova Partners. The fund recently held its first close, having collected 22.5 million euros.

Venture fund performance began to recover from the excesses of the bubble years in 2003 and 2004 before dipping again in the following two years of 2005 and 2006. There are signs these now mid-life funds with ’05 and ’06 vintages are starting to hit a better stride.

The endowment committed $337.5 million to 11 funds in 2010 and 2011, according to its November portfolio report. Nine focus on technology or allocate some portion of their funds to tech. Two zero in on health care.

Minneapolis-based chemicals company BioAmber Inc. has raised $30 million in Series C financing, the company announced Wednesday. Investors include Naxos Capital, Sofinnova Partners, Mitsui & Co. Ltd., the Cliffton Group and specialty chemicals company LANXESS. PRESS RELEASE BioAmber Inc. has completed its Series C round of financing with net proceeds of $30 million . The [...]

NuCana BioMed, a UK-based biopharmaceutical company focused on anti-cancer therapies, has closed on 6.74 million pounds ($10.4 million) in Series A venture financing. Sofinnova Partners led the round, and was joined by Morningside Ventures, Scottish Investment Bank’s Scottish Venture Fund and Alida Capital International.

BioAmber Inc., a renewable chemical company backed by NAXOS Capital Partners, Mitsui & Co. Venture Partners and Sofinnova Partners, has filed to raise up to $150 million in an initial public offering. The company posted a loss of $10.8 million in the first half of 2011, Reuters reported Monday.

European biotech company Creabilis has raised $20 million in a Series B financing round led by Abbott Biotech Ventures. Existing investors Neomed and Sofinnova Partners also joined in the round, which will help finance development efforts.

Matthew Roe will join Crescendo Biologics as its chief business officer, the company announced. The healthcare veteran comes from Genzyme Corp., where he most recently served as senior director of business development and licensing. The company has raised £4.5 million in seed funding from life sciences investors, Sofinnova Partners, Avlar BioVentures and the Rainbow Seed Fund.