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Apollo To Take Minority Equity Interest In Sofinnova; To Invest 1 Bln Euros

Apollo Global Management, Inc. (APO) and Sofinnova Partners, a European life sciences venture capital firm, announced Monday a long-term strategic and financial partnership.

Under the agreement, Apollo will take a minority equity interest in Sofinnova and commit up to 1 billion euros of managed capital to its investment funds. This strategic partnership is poised to significantly accelerate Sofinnova's growth.

For Apollo, the investment will meaningfully increase its presence in life sciences and contribute to its growth ecosystem of partners that bring specialized knowledge and networks to its integrated platform.

Together, Sofinnova and Apollo will offer entrepreneurs a more comprehensive range of capital solutions to help bring new therapeutic and biotechnology-based solutions to the market.

The commitment to invest up to 1 billion euros in Sofinnova vehicles, including future strategies the two firms may co-develop, will support companies at the forefront of life sciences innovation.

Sofinnova will also gain access to Apollo's global investment platform spanning credit, equities, real estate and other asset classes, as well as its far-reaching networks and capital markets expertise.

Sofinnova will continue to operate from its Paris headquarters as an independent organization.

The transaction is subject to customary closing conditions, including prior authorization by the French Autorité des Marchés Financiers, and is expected to close in the second half of 2022.

Upon close, Neil Mehta, Partner and Global Head of Strategy at Apollo, will join Sofinnova's Board of Directors.

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