Sofinnova launches BiovelocITA accelerator with the founders of EOS

Sofinnova Partners, a major European venture capital firm that has been on the market for 40 years, yesterday announced the launch of BiovelocITA, the first Italian accelerator dedicated to biotech companies.

BiovelocITA starts out with 6 million euro in funding, to be delivered in coming years by Sofinnova Partners and a small group of private investors, introduced by Banor SIM spa, which is engaged in fund-raising for the accelerator.

BiovelocITA will be managed by chairman Silvano Spinelli and chief executive officer Gabriella Camboni. The two managers were the founders of EOS, which was sold in 2013 to Clovis Oncology for 470 million dollars, and previously of Novuspharma, listed on the New Market in 2000. Sofinnova Partners has invested in both companies from the outset.

BiovelocITA has already signed up to its first strategic partnership with TTFactor, a technology transfer company which manages the intellectual property of three of Italy’s most important research institutes: the Firc Institute of Molecular Oncology (IFOM), the European Institute of Oncology (Italian initials IEO) and the Monzino Cardiology Centre. More than 10 biotech projects are currently under study, both through the TTFactor agreement and from other sources. The partnership with TTFactor will further increase the potential for financing projects by BiovelocITA

Banor SIM is a boutique financial consultancy firm specialising in fund management, advisory and family office. Banor recently acted as advisor for the Tesmec IPO on Borsa Italiana’s MTA and for Industrial Stars of Italy and Iniziative Bresciane on AIM Borsa Italiana [the market for small and medium-sized enterprises]. Banor SIM also acted as advisor for the acquisition of the majority stake in Barovier&Toso by DVR Capital and the divestment of the majority holding of KD Pharma to Capiton.

Original article in Italian language, available here: BeBeez, November 17, 2015.


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