MENLO PARK, Calif. – September 8, 2010 – Sofinnova Ventures, a venture capital firm based in Silicon Valley, today announced that Garheng Kong, M.D., Ph.D. has joined the firm as General Partner. He will actively invest in biopharmaceutical companies from the firm’s current fund, SVP VII.
Up until joining Sofinnova, Kong was a General Partner at Intersouth Partners, where he has been for the past ten years. He was the founding investor of Cellective Therapeutics, a Sofinnova Ventures co-investment that was acquired by MedImmune in 2005. Some of Kong’s additional investments have included Serenex (acquired by Pfizer in 2008), Novamin Technologies (acquired by GSK in 2009), Alimera Sciences (Nasdaq: ALIM, 2010), and Cempra and Viamet Pharmaceuticals.
“With years of strong mutual respect between us, I’m looking forward to joining the Sofinnova Ventures team,” said Kong. “I value their diverse experience within biopharmaceuticals and appreciate the fact that the partnership seeks to build a leading firm with an excellent portfolio of investments.”
Prior to joining Intersouth, Kong was a clinical scientist at Glaxo Wellcome focusing on clinical trials and marketing, and an associate at McKinsey & Company. He has also been involved in commercializing early-stage technology with the Duke University Office of Science and Technology.
He received an M.D., a Ph.D. in Biomedical Engineering, and an M.B.A. from Duke University, with a research focus in drug delivery. He also holds B.S. degrees in Chemical Engineering and Biological Sciences from Stanford University.
“As a long-term colleague and co-investor, it’s a real pleasure for us to welcome Garheng to our team,” commented Jim Healy, M.D., Ph.D., General Partner at Sofinnova Ventures. “With his proven track record as an investor and background as a clinical scientist, he’ll be a valuable asset as Sofinnova continues to identify and invest in companies developing late-stage drugs with excellent potential for FDA-approval and significant financial returns.”
In the past nine months, three Sofinnova Ventures portfolio companies have held IPOs: Movetis (NYSE Euronext: MOVE), Anthera (Nasdaq: ANTH) and Trius Therapeutics (Nasdaq: TSRX). Movetis was Europe’s largest IPO within the last five years, and has since received an all cash tender offer from Shire plc to acquire all outstanding shares.
About Sofinnova Ventures
Sofinnova Ventures has over 35 years of experience building start-ups and corporate spin-outs into market leaders. With $1 billion under management, the firm applies capital and expertise to guide early stage companies to successful exits. The firm’s investment team of M.D.s and Ph.D.s has significant scientific, operational and strategic experience, and specializes in financing later stage clinical products. With a focus on product spin-outs, the firm partners with entrepreneurs to address patients’ unmet medical needs. Sofinnova Ventures has offices in Menlo Park and La Jolla, California. For more information, please visit www.sofinnova.com.