Company type | Private limited company |
---|---|
Industry | Life Sciences Asset management |
Founded | 1999 |
Headquarters | , |
Key people | Kasim Kutay (CEO) Lars Rebien Sørensen (Chairman) |
Services | Investments in Life Science |
Total assets | DKK 1,114 billion (2023) Approx. $163 billion (2023) |
Subsidiaries | Novo Nordisk A/S Novozymes A/S |
Website | www |
Novo Holdings A/S (formerly Novo A/S) [1] is the Novo Nordisk Foundation's wholly owned holding company for Novo Nordisk A/S and Novozymes A/S. Novo Holdings A/S was established in 1999 and manages the Novo Nordisk Foundation's assets, which in 2023 was worth almost DKK 1,114 billion [2] [3] [4] Danish Kroner (approximately US$163 billion). The company generated a total income and investment return of DKK 31 billion in 2023. [5]
It is the largest charitable foundation in the world making Novo Holdings A/S a world-leading life sciences investor. [6] Novo Holdings A/S is headquartered in Copenhagen, Denmark, with offices in San Francisco, Boston and Singapore.
Eivind Kolding succeeded Henrik Gürtler as CEO on 1 May 2014. [7] Eivind Kolding left Novo Holdings A/S in March 2016 and Kasim Kutay took over as CEO for the organisation. [8]
Novo Holdings A/S manages the Novo Nordisk Foundation's assets, aiming to enable and make a positive impact on health, science and society by generating long-term returns on the assets of the Novo Nordisk Foundation, which the Novo Nordisk Foundation in return can award as grants for scientific research and humanitarian and social purposes. [9] [10] [11]
The overall purpose of Novo Holdings A/S is to hold the position as the controlling majority shareholder of the Novo Group companies (Novo Nordisk A/S and Novozymes A/S), aiming at making a positive impact on health, science and society by generating long-term returns on the assets of the Novo Nordisk Foundation. [12] The Novo Nordisk Foundation is an enterprise foundation which is a self-governing entity with no owners, focusing on long-term ownership of the Novo Group (Novo Nordisk A/S and Novozymes A/S) while combining business and philanthropy within scientific, humanitarian and social purposes. A key task of Novo Holdings A/S is to act as a stable basis for the commercial activities of Novo Nordisk A/S and Novozymes A/S. Novo Holdings A/S also invests in both financial assets and in companies with application-oriented research in the life sciences.
Novo Holdings A/S' objective is to grow the assets of the Novo Nordisk Foundation. In addition to investing in equity and fixed income securities, Novo Holdings pursues direct investments in life science companies. [10] The Novo Nordisk Foundations share of financial returns generated from investments are added to the Novo Nordisk Foundation endowment and later distributed through charitable grants and awards aiming to improve the lives of people, science and society around the world. [10]
Novo Holdings A/S is recognised as a leading international life science investor focusing on creating long-term value. [9] Besides from being the controlling shareholder in the Novo Group companies (including Novo Nordisk A/S and Novozymes A/S), [13] Novo Holdings also provides seed and venture capital to companies in the development-stage. [11]
Novo Holdings also takes on significant ownership in growth and well-established companies and manages a broad portfolio of diversified financial assets. [11] [13]
In 2021–2022, Novo Holdings have announced an increased investment focusing on Biosolutions (also known under the term bioindustrials or biotechnologies within the healthcare and environmental spaces), aiming to make biotechnology a spearhead for the green transition. [14] Novo Holdings claim that the ambition is "to help remove the roadblocks wherever they are, paving the way for promising biologic discoveries to become new solutions". [14]
In 2021, Novo Holdings added numerous biotechnology companies to its portfolio, including 21st. BIO, which helps other biotechnology companies scale up production through an advanced technology platform. [15]
These diverse investments include companies supplying climate-neutral cement, biopesticides, synthetic silk biopolymers and many other products and solutions that challenge current conventions. Novo Holdings added eight bioindustrial companies to its portfolio in 2021 and invested approx. €98 million ($97.35 million) in total in the bioindustrial space. [15]
In 2021, the Novo Holdings portfolio focusing on Life Science Investment (Novo Seeds, Novo Growth, Novo Ventures and Novo Principal Investments [16] ) made up 52% of the total portfolio [11] while the Novo Capital Investors made up the remaining 48% of the total portfolio. [11] The Life Science Investment portfolio and Novo Capital Investors generated returns of approximately DKK 12 billion ($1.6 billion) in 2021. [17] [11]
The Novo Group comprises Novo Holdings A/S, Novo Nordisk A/S and Novozymes A/S. Novo Holdings A/S owns more than 25% of the ordinary share capital of Novo Nordisk A/S and controls more than 70% of the votes through its ownership of all the preferred (A) shares, which are not traded.
The Group's main purpose is to manage the financial assets of the Novo Nordisk Foundation to ensure an adequate financial return to cover the Foundation's investments and grants for scientific, humanitarian and social purposes and projects in the Nordic countries and the rest of the world. The Group achieves this by investing in life science companies in Europe and North America. The Novo Group also invests in a portfolio of financial assets. [23]
In 2014, Henrik Gürtler stepped down as CEO after serving in the position since the company was established in 1999. He was replaced by Eivind Kolding, previously the CEO of Danske Bank. [24] On 29 February 2016, Eivind Kolding was dismissed as CEO of Novo A/S after 2 years in the post. He was temporarily replaced until June 2016 by Sten Scheibye, Chair of the Board of Directors. His successor as CEO of Novo Holdings A/S is Kasim Kutay, [25] a British citizen who previously worked for investment banks Morgan Stanley and Moelis & Company.
The Board of Directors of Novo Holdings A/S comprises six members (as of December 2018): [26] [27] [28]
In February 2018, Novo Holdings announces the establishment of an impact fund commissioned by the Novo Nordisk Foundation with a total initial budget of US$165 million to invest in companies involved in discovering and early-stage development of therapies to combat antimicrobial resistance. [29]
According to CEO Kasim Kutay, Novo Holdings are looking to increase this type of investments in global healthcare challenges: “We are looking to increase investments of this type in the coming years, and we are excited about our potential to make a significant difference in improving global healthcare”. [30]
REPAIR is an acronym for: Replenishing and Enabling the Pipeline for Anti-Infective Resistance. [31]
In addition to the Novo Group, Novo Holdings A/S owns major stakes in several Danish companies, including the Xellia Group, Sonion and Chr. Hansen Holdings A/S. By the beginning of 2018 Novo Holdings A/S had a portfolio of 85 listed and unlisted Life Science companies in Europe and North America.
Novo Holdings A/S invests mainly in companies that develop, manufacture or sell medicine, new treatment methods or medical or health-related equipment. [32]
At the end of 2017, Novo Holdings A/S had allocated nearly DKK 38 billion for investment in portfolios in Large Investments, Ventures and Seeds of DKK 31.5 billion, DKK 5.9 billion and DKK 291 million, respectively. [33]
List of all investments [41] [42]
Company | Investment area | Region | Date |
Oxford Nanopore Technologies | Growth Investments | Europe | August 2024 |
MATR Foods | Planetary Health Investments | Europe | July 2024 |
Sejet Plant Breeding (Sejet) | Planetary Health Investments | Europe | June 2024 |
CIRCTEC | Planetary Health Investments | Europe | May 2024 |
Cleveland Diagnostics | Growth Investments | North America | January 2024 |
Reunion Neuroscience | Venture Investments | North America | May 2024 |
REDUCED | Planetary Health Investments | Europe | April 2024 |
Pureos Bioventures II | Venture Investments | Europe | July 2023 |
Site One | Venture Investments | North America | January 2024 |
OnCusp | Venture Investments | North America | December 2023 |
ManaT | Venture Investments | North America | October 2023 |
Hillstar Bio | Venture Investments | North America | August 2023 |
Manipal Hospitals | Uncategorised | Asia | February 2024 |
Nalu Medical | Venture Investments | North America | January 2024 |
LePure | Asia | January 2023 | |
MedGenome | Asia | August 2022 | |
Sangon Biotech | Asia | August 2023 | |
Paratek Pharmaceuticals | Planetary Health Investments | Europe | September 2023 |
LimmaTech Biologics | Seed Investments | Europe | October 2023 |
MapLight Therapeutics | Venture Investments | North America | October 2023 |
Terremoto Biosciences | Venture Investments | North America | November 2023 |
ROSLIN TECHNOLOGIES | Planetary Health Investments | Europe | November 2023 |
Euroclear | Capital Investments | Europe | September 2023 |
HPNow | Planetary Health Investments | Europe | September 2023 |
Glentra | Capital Investments | Europe | September 2023 |
Ellab | Principal Investments | Europe | September 2023 |
Octave | Venture Investments | North America | May 2023 |
Commit Biologics | Seed Investments | Europe | April 2023 |
Noom | Venture Investments | North America | April 2023 |
Ray Therapeutics | Venture Investments | North America | April 2023 |
Alentis Therapeutics | Venture Investments | Europe | March 2023 |
Aquafortus | Planetary Health Investments | #VALUE! | February 2023 |
FIRE1 | Venture Investments | Europe | February 2023 |
Hemab Therapeutics | Seed Investments | Europe | January 2023 |
Evosep | Growth Investments | Europe | January 2023 |
iECURE | Venture Investments | North America | November 2022 |
KabaFusion | Principal Investments | North America | November 2022 |
Breye Therapeutics | Seed Investments | Europe | October 2022 |
Kate Farms | Planetary Health Investments | North America | September 2022 |
Riva Therapeutics | Venture Investments | North America | June 2022 |
Tel Aviv Stock Exchange | Capital Investments | Europe | August 2018 |
Invisio | Capital Investments | Europe | August 2016 |
Deep 6 AI | Venture Investments | North America | April 2022 |
Elo Life Systems | Planetary Health Investments | North America | April 2022 |
Engimmune Therapeutics | Seed Investments | Europe | April 2022 |
Invetx | Planetary Health Investments | North America | April 2022 |
Nuvig Therapeutics | Venture Investments | North America | April 2022 |
Qure.ai | Asia | March 2022 | |
Metagenomi | Venture Investments | North America | January 2022 |
Rondo Therapeutics | Venture Investments | North America | January 2022 |
Ritedose | Principal Investments | North America | January 2022 |
Medical Knowledge Group | Principal Investments | North America | December 2021 |
Verana Health | Growth Investments | North America | December 2021 |
21st.BIO | Planetary Health Investments | Europe | November 2021 |
Asgard Therapeutics | Seed Investments | Europe | October 2021 |
Clever Care Health Plan | Venture Investments | North America | October 2021 |
BIOMILQ | Planetary Health Investments | North America | October 2021 |
Jernbanebyen | Capital Investments | Europe | September 2021 |
Doctor Anywhere | Uncategorised | Asia | August 2021 |
Availity | Principal Investments | North America | July 2021 |
Genomatica | Planetary Health Investments | North America | June 2021 |
Muna Therapeutics | Seed Investments | Europe | June 2021 |
BBI Solutions | Principal Investments | Europe | August 2021 |
Quanta | Growth Investments | Europe | May 2021 |
Tribune Therapeutics | Seed Investments | Europe | May 2021 |
AMSilk | Planetary Health Investments | Europe | April 2021 |
Esco | Asia | April 2021 | |
Hummingbird | Venture Investments | Asia | April 2021 |
Numab | Venture Investments | Europe | April 2021 |
Adcendo | Seed Investments | Europe | March 2021 |
Bactolife | Planetary Health Investments | Europe | March 2021 |
Halodoc | Uncategorised | Asia | March 2021 |
Renewable Energy Partnership | Capital Investments | Europe | March 2021 |
Deep Branch | Planetary Health Investments | Europe | February 2021 |
BGV | Venture Investments | Europe | December 2020 |
Orbis Medicines | Seed Investments | Europe | November 2020 |
ZELP | Planetary Health Investments | Europe | November 2020 |
The Protein Brewery | Planetary Health Investments | Europe | October 2020 |
Rappta Therapeutics | Seed Investments | Europe | August 2020 |
Lava Therapeutics | Venture Investments | Europe | July 2020 |
Mission Bio | Growth Investments | North America | July 2020 |
NREP | Capital Investments | Europe | July 2020 |
Chromologics | Planetary Health Investments | Europe | June 2020 |
NodThera | Venture Investments | North America | May 2020 |
Exscientia | Growth Investments | Europe | April 2020 |
Biomason | Planetary Health Investments | North America | November 2019 |
Allievex Corporation | Venture Investments | North America | September 2019 |
LanzaTech | Planetary Health Investments | North America | July 2019 |
Glycomine | Venture Investments | North America | July 2019 |
Amolyt Pharma | Venture Investments | Europe | June 2019 |
Edgewise Therapeutics | Venture Investments | North America | June 2019 |
Claris Bio | Venture Investments | North America | May 2019 |
Vestaron | Planetary Health Investments | North America | May 2019 |
MycoWorks | Planetary Health Investments | North America | April 2019 |
Oxford Biomedica | Growth Investments | Europe | April 2019 |
Swift Health Systems / Inbrace | Venture Investments | North America | April 2019 |
Tempus | Growth Investments | North America | April 2019 |
Anthos Therapeutics | Venture Investments | North America | December 2018 |
Mirum Pharmaceuticals | Venture Investments | North America | October 2018 |
Precirix | Seed Investments | Europe | October 2018 |
Draupnir Bio | Seed Investments | Europe | September 2018 |
NorthSea Therapeutics | Seed Investments | Europe | November 2017 |
Antag Therapeutics | Seed Investments | Europe | April 2017 |
Avalyn | Venture Investments | North America | February 2017 |
ConvaTec | Principal Investments | Europe | February 2017 |
Evotec | Principal Investments | Europe | January 2017 |
Hoba Therapeutics | Seed Investments | Europe | November 2016 |
HepaRegeniX | Seed Investments | Europe | October 2016 |
CorWave | Seed Investments | Europe | September 2016 |
F2G Limited | Venture Investments | Europe | May 2016 |
Inspirna | Venture Investments | North America | May 2016 |
NMD Pharma | Seed Investments | Europe | May 2016 |
Spruce Biosciences | Venture Investments | North America | March 2016 |
Synlab | Principal Investments | Europe | January 2016 |
DADES | Capital Investments | Europe | June 2015 |
Biosyntia | Planetary Health Investments | Europe | December 2014 |
Sonion | Principal Investments | Europe | September 2014 |
Anokion | Venture Investments | Europe | February 2014 |
IO Biotech | Seed Investments | Europe | December 2013 |
Xellia Pharmaceuticals | Principal Investments | Europe | April 2013 |
Reapplix | Seed Investments | Europe | December 2012 |
Chr. Hansen | Principal Investments | Europe | December 2011 |
Galecto Biotech | Seed Investments | Europe | October 2011 |
Acesion Pharma | Seed Investments | Europe | December 2010 |
Orexo | Principal Investments | Europe | March 2010 |
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