Sofinnova Partners closed a €750 million (reported $750M) fund to support early‑stage therapeutics, and European investors launched additional sizable vehicles to replenish venture capital for biotech. The new pools aim to extend runway for startups addressing high‑unmet‑need programs and provide ‘patient’ capital through more development stages. Medicxi and other managers also announced new funds, signaling renewed institutional appetite for European biotech despite a challenging exit environment. Firms will use the capital to back discovery platforms, translational assets, and regionally anchored clinical programs. The closings underscore a shift back toward therapeutics and IP‑driven investments, with LPs prioritizing longer‑horizon commitments amid M&A‑led liquidity.