Sanofi invests €50 million in VC Jeito Capital for innovation pipeline - Business Insider

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French drugmaker Sanofi has just invested $59 million in biotech investor Jeito Capital to fund innovation in the biopharma pipeline

Sanofi, one of the world's biggest pharmaceutical companies, has invested €50 million in new French-based VC Jeito Capital.managing director of innovation at Jeito Capital, spoke with Business Insider about how the fund plans to invest the money.

"This investment provides Sanofi with access to the very best in French and European healthcare innovation and reinforces our commitment to investing in our medium and long-term development pipeline," Paul Hudson, CEO of Sanofi, said in a statement. Jeito's Fund I has already led a $110 million investment in Dutch firm Neogene Therapeutics, which develops cell therapies to treat a range of cancers, with a focus on solid tumors. Jeito also participated in an investing round for French-based SparingVision, which is developing gene therapy treatment for vision loss.

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