BUSINESS WIRE: Sofinnova Partners Welcomes Mano Iyer as Venture Partner
MITTEILUNG UEBERMITTELT VON BUSINESS WIRE. FUER DEN INHALT IST ALLEIN DAS BERICHTENDE UNTERNEHMEN VERANTWORTLICH.
PARIS --(BUSINESS WIRE)-- 05.01.2023 --
Sofinnova Partners (“Sofinnova'), a leading European life sciences venture capital firm based in Paris, London, and Milan, announced the appointment of Manohar (Mano) Iyer, a serial entrepreneur with longstanding ties to Sofinnova, as Venture Partner.
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Mr. Iyer will investigate global medical device investment opportunities across the Sofinnova Partners platform of strategies, with a particular focus on helping the firm’s in-house medtech accelerator, Sofinnova MD Start, incubate world-class companies.
Mr. Iyer has more than 25 years of experience in the medical device industry. In 2008, he was a founding member of the original MD Start team that incubated companies including CorWave and LimFlow. He also advised CoreValve, a Sofinnova Capital Strategy portfolio company, which was subsequently purchased by Medtronic for $800 million.
Mr. Iyer founded ReCor Medical during his time as an Entrepreneur-in-Residence at Sofinnova Partners in 2009. ReCor, another Sofinnova Partners investment, which is developing an ultrasound renal denervation system to treat high blood pressure, was successfully sold to Otsuka Medical Devices in 2018. Mr. Iyer left Sofinnova in 2013 to work full-time as the Chief Operating Officer of ReCor.
Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, said: “We are delighted to have Mano back in the fold at Sofinnova Partners. He is an experienced company builder and a respected figure in the medical device community who has shown an uncanny ability to start successful companies no matter what condition the global economy is in.”
Anne Osdoit, Partner at Sofinnova Partners, said: “Mano joins us as MD Start is really hitting its stride. Several of our companies are maturing exceptionally well and we have a healthy flow of promising disruptive medtech projects. Mano brings a deep understanding of the sector thanks to his experience and network in the US and Europe. He also knows our medtech acceleration model inside out, having pioneered it with ReCor. We are thrilled to be working with him.”
Mr. Iyer said: “Sofinnova has realized something truly impressive in developing a first-class medtech ecosystem based out of Europe. The firm is recognized globally as an influential player in the space and I’m excited and proud to be back.”
Mr. Iyer started his career in medical devices as an engineer at Arrow International. While at Arrow, he met Tim Lenihan. In 2001, he co-founded Contract Medical International (CMI) with Mr. Lenihan, and ran operations and engineering. CMI specialized in the development and custom manufacturing of minimally invasive medical device systems. It was acquired by Heraeus Group in 2020.
After earning an MBA from Stanford, he joined Sofinnova Partners thanks to an introduction from Gerard Hascoët, whom he had also met while at Arrow. The trio (Hascoët, Lenihan, Iyer) joined forces with Antoine Papiernik and, with the backing of Sofinnova Partners, founded MD Start to create and incubate innovative medical device companies. Now in its third iteration, MD Start is fully integrated into the Sofinnova platform of strategies.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.
Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: sofinnovapartners.com.
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