A coalition of leading European venture capital firms launched the European Life Science Coalition (ELSC) to improve capital allocation and institutional investment conditions across the continent. Founding partners include Sofinnova Partners, Novo Holdings and Omega Funds; members manage roughly €24 billion in life‑science assets. ELSC positions itself as an advocacy group—rather than an investment vehicle—seeking to raise institutional allocations, harmonize market conditions and reduce funding fragmentation that has pushed many European biotech IPOs to list in the U.S. The group highlighted Europe’s underweight pension-fund allocations to venture as a structural challenge. If successful, the coalition could alter late‑stage financing options and reduce the outbound flow of high-growth European biotechs to U.S. exchanges.