Apollo expands its growth ecosystem by getting a minority stake in revolutionary everyday living sciences undertaking cash organization and delivering up to €1 billion of money commitments
Sofinnova Partners poised to speed up expansion with extra cash and world strategic companion
NEW YORK & PARIS, May well 16, 2022–(Business enterprise WIRE)–Apollo (NYSE: APO) and Sofinnova Associates (“Sofinnova”), a main European everyday living sciences undertaking capital business based in Paris, London, and Milan, nowadays introduced a long-term strategic and economical partnership. Underneath the agreement, Apollo will get a minority equity fascination in Sofinnova and commit up to €1 billion of managed capital to its investment resources. This strategic partnership is poised to appreciably accelerate Sofinnova’s advancement. For Apollo, the expense will meaningfully improve its presence in life sciences and contribute to its progress ecosystem of partners that bring specialized information and networks to its integrated system.
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With each other, Sofinnova and Apollo will supply business people a much more detailed assortment of money answers to assistance carry new therapeutic and biotechnology-dependent alternatives to the marketplace. The motivation to invest up to €1 billion in Sofinnova cars, which includes long term procedures the two corporations may possibly co-build, will support organizations at the forefront of life sciences innovation. Sofinnova will also obtain accessibility to Apollo’s world financial commitment system spanning credit score, equities, true estate and other asset courses, as effectively as its considerably-achieving networks and cash marketplaces knowledge. Sofinnova will carry on to run from its Paris headquarters as an unbiased organization.
Sofinnova adds to Apollo’s ecosystem of financial investment managers targeted on deep tech, fintech, digital property and other specialized, better growth groups exactly where the business does not have a historic footprint. By bringing together the broader Apollo system with best-in-course companions, Apollo can keep its disciplined financial commitment solution even though leveraging new sector know-how throughout its equity, hybrid and yield enterprises, like in accretive new merchandise development.
Antoine Papiernik, Chairman and Handling Partner of Sofinnova Companions, commented: “This strategic partnership will empower Sofinnova to double down on what it does finest: assistance innovation and construct corporations by way of very long-expression associations with visionary business people. We are poised to speed up our technique, solidify our posture as a leading world participant, and enrich our solution offering to our traders – placing the phase for new concentrations of advancement and growth.”
Mr. Papiernik noted that Sofinnova’s portfolio corporations and the whole existence sciences ecosystem stand to benefit from the greater scope and scale of capital alternatives, deepened skills and broader international footprint this partnership will permit. “We glance ahead to performing with Apollo to build the following era of video game-transforming startups, whilst positively impacting the potential as a result of investments in healthcare and sustainability,” he reported.
Scott Kleinman, Co-President of Apollo, said, “The life sciences industry continues to expand and innovate, producing substantial options to fund and progress new therapeutics and technologies in pursuit of far better health results. Nowadays, Apollo and its affiliates regulate extra than $5 billion across the health care and life sciences industries, and we look at this house as a major expansion location for the company. Sofinnova is a very clear husband or wife of preference, with specialized know-how and a vast sector network that is accretive to our broader investing platform. Alongside one another we can leverage our complementary strengths and cultures to variety a long-expression, mutually useful marriage.”
The transaction is matter to customary closing circumstances, such as prior authorization by the French Autorité des Marchés Financiers, and is anticipated to close in the second 50 percent of 2022. Upon shut, Neil Mehta, Associate and World wide Head of System at Apollo, will sign up for Sofinnova’s Board of Administrators.
Triago acted as a strategic advisor, and Dechert LLP as legal advisor to Sofinnova. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Gide Loyrette Nouel are serving as authorized counsel to Apollo, and Guggenheim Partners as its economic advisor.
About Sofinnova Partners
Sofinnova Associates is a top European venture money firm in everyday living sciences, specializing in healthcare and sustainability. Dependent in Paris, London and Milan, the firm brings collectively a crew of pros from all above the globe with potent scientific, health-related and enterprise abilities. Sofinnova Associates is a hands-on business builder throughout the whole worth chain of lifestyle sciences investments, from seed to later on-phase. The agency actively associates with bold business people as a lead or cornerstone investor to establish transformative improvements that have the likely to positively impression our collective future.
Established in 1972, Sofinnova Partners is a deeply proven undertaking cash agency in Europe, with 50 many years of encounter backing in excess of 500 corporations and generating industry leaders about the world. Today, Sofinnova Associates has in excess of €2.5 billion underneath management. For much more information and facts, you should check out: sofinnovapartners.com.
About Apollo
Apollo is a superior-development, world alternative asset manager. In our asset management enterprise, we request to supply our purchasers surplus return at every single stage along the danger-reward spectrum from investment decision grade to non-public fairness with a target on a few investing approaches: yield, hybrid, and fairness. For a lot more than 3 a long time, our investing experience throughout our thoroughly built-in platform has served the economical return needs of our clientele and supplied corporations with modern cash remedies for advancement. By means of Athene, our retirement providers business enterprise, we specialize in aiding customers reach economical security by offering a suite of retirement financial savings products and performing as a alternatives service provider to institutions. Our affected person, imaginative, and well-informed solution to investing aligns our consumers, corporations we devote in, our staff members, and the communities we affect, to broaden prospect and obtain optimistic results. As of March 31, 2022, Apollo experienced around $513 billion of property beneath administration. To master a lot more, you should pay a visit to www.apollo.com.
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Contacts
Bommy Lee
Head of Communications
Sofinnova Partners
[email protected]
+33 () 6 47 71 38 11
North America
RooneyPartners LLC
Kate Barrette
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+1 212 223 0561
France
StrategiesImage
Anne Rein
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+33 () 6 03 35 92 05
Italy
Havas PR Milan
Pierluigi Cavarai
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+39 () 392 77 999 33
United Kingdom
Optimum Strategic Communications
Rebecca Noonan
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+44 () 20 3922 0900
Noah Gunn
Global Head of Investor Relations
Apollo World Management, Inc.
[email protected]
(212) 822-0540
Joanna Rose
Worldwide Head of Company Communications
Apollo World Administration, Inc.
[email protected]
(212) 822-0491
