Novo Holdings A/S
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 457 billion (2020) Approx. $73 billion (2020) |
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 2020 was worth DKK 457 billion[2][3] Danish Kroner (approximately US$73 billion).
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 aims to manage the Novo Nordisk Foundation’s assets to achieve a return that the Foundation can award as grants for scientific research and humanitarian and social purposes.
Eivind Kolding succeeded Henrik Gürtler as CEO on 1 May 2014.[4] Eivind Kolding left Novo Holdings A/S in March 2016 and Kasim Kutay took over as CEO for the organisation.[5]
Investments areas[]
Novo Holdings A/S operates in four main investment areas.[6]
Novo Seeds: aims to support especially promising biotechnology companies with great commercial potential at an early stage of their development. Novo Seeds also awards research scholarships called pre-seed grants for promising research, projects and ideas in the early stages. Novo Seeds was established in 2007.
Novo Ventures: was created in 2000. Since inception, Novo Ventures has invested more than DKK 10 billion in 138 innovative companies and has divested 44 of these companies at a profit.
Novo Growth was formed in 2019 and invests in innovative lifescience companies too mature for venture-investments but too young for principal investments.
Principal investments invests solely in mature and well-established life science companies with a leading market position and attractive growth potential.
Novo Capital Investors: invests in equity, bond markets and alternative assets such as private equity, private debt and real estate, which thereby provide a source of diversification and access to liquidity for Novo Holdings and the Novo Nordisk Foundation.
Novo Group[]
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.[7]
Senior management[]
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.[8] 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,[9] a British citizen who previously worked for investment banks Morgan Stanley and Moelis & Company.
- Henrik Gürtler, 1999 – 2014
- Eivind Kolding, 2014 – 2016
- Sten Scheibye (Chairman and interim CEO), March 2016 – June 2018
- Peter Helt Jacobsen Haahr (CFO)
- Kasim Kutay (CEO), 2016 – current
Board of Directors[]
The Board of Directors of Novo Holdings A/S comprises six members (as of December 2018):[10][11][12]
- Lars Rebien Sørensen (Chairman), July 2018 - current
- Steen Riisgaard (Vice Chairman)
- Viviane Monges
- Francis Michael Cyprian Cuss
- Jeppe Fonager Christiansen
- Jean-Luc Butel
- Carsten Stendevad
- Henrik Poulsen
REPAIR Impact Fund[]
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.[13]
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”.[14]
REPAIR is an acronym for: Replenishing and Enabling the Pipeline for Anti-Infective Resistance.[15]
Investments[]
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.[16]
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.[17]
- In April 2021, Novo Holdings made its first investment in an Asia-based company, Halodoc[18]
- In May 2013, Novo Holdings acquired all shares in the pharmaceutical company Xellia.[19]
- In July 2014, Novo Holdings acquired all shares in , a manufacturer of components for the hearing aid industry.[20]
- In Marts 2017, Novo Holdings acquired 20 percent of the shares in the UK listed company ConvaTec Group Plc with Kasim Kutay, CEO of Novo Holdings A/S, joining the Board of Directors.[21]
List of all investments[22]:
Name | Date | Investment area | Region |
Halodoc | April 2021 | Novo Ventures | Asia |
Altasciences | March 2021 | Principal Investments | North America |
The Protein Brewery | November 2020 | Novo Growth | Europe |
Rappta Therapeutics | August 2020 | Novo Seeds | Europe |
NREP | August 2020 | Novo Capital Investors | Europe |
Lava Therapeutics | August 2020 | Novo Ventures | Europe |
Mission Bio | August 2020 | Novo Growth | Western USA |
iSD Immunotech | July 2020 | Novo Seeds | Europe |
Chromologics | July 2020 | Novo Seeds | Europe |
Freeline | July 2020 | Novo Ventures | Eastern USA |
Checkmate Pharma | June 2020 | Novo Ventures | Eastern USA |
NodThera | June 2020 | Novo Ventures | Europe |
Exscientia | May 2020 | Novo Growth | Europe |
Kebotix | April 2020 | Novo Growth | Eastern USA |
WCG | January 2020 | Principal Investments | Eastern USA |
bioMASON | December 2019 | Novo Growth | Eastern USA |
Allievex Corporation | October 2019 | Novo Ventures | Eastern USA |
STipe Therapeutics | October 2019 | Novo Seeds | Europe |
Cyteir Therapeutics | August 2019 | Novo Ventures | Eastern USA |
LanzaTech | August 2019 | Novo Growth | Western USA |
Edgewise Therapeutics | July 2019 | Novo Ventures | Western USA |
Amolyt Pharma | July 2019 | Novo Ventures | Europe |
Glycomine | July 2019 | Novo Ventures | Western USA |
Disk Medicine | June 2019 | Novo Ventures | Eastern USA |
Claris Bio | June 2019 | Novo Ventures | Western USA |
VectivBio | June 2019 | Novo Ventures | Europe |
Vestaron | June 2019 | Novo Growth | Eastern USA |
MycoWorks | May 2019 | Novo Growth | Western USA |
Swift Health Systems / Inbrace | May 2019 | Novo Ventures | Eastern USA |
Tempus | May 2019 | Novo Growth | Western USA |
Oxford Biomedica | May 2019 | Novo Growth | Europe |
Anthos Therapeutics | January 2019 | Novo Ventures | Eastern USA |
Mirum Pharmaceuticals | November 2018 | Novo Ventures | Western USA |
Precirix | November 2018 | Novo Seeds | Europe |
BioPhero | September 2018 | Novo Seeds | Europe |
Morphic Therapeutics | September 2018 | Novo Ventures | Western USA |
Envirotainer | September 2018 | Principal Investments | Europe |
Tel Aviv Stock Exchange | August 2018 | Novo Capital Investors | Europe |
MDLIVE | August 2018 | Novo Ventures | Eastern USA |
Aligos | August 2018 | Novo Ventures | Western USA |
Aristea Therapeutics | July 2018 | Novo Ventures | Western USA |
Reviral | July 2018 | Novo Ventures | Europe |
Stargazer Pharmaceuticals | April 2018 | Novo Ventures | Eastern USA |
Praxis Precision Medicine | March 2018 | Novo Ventures | Eastern USA |
Viewpoint | February 2018 | Novo Ventures | Western USA |
Syndesi Therapeutics | December 2017 | Novo Seeds | Europe |
NorthSea Therapeutics | December 2017 | Novo Seeds | Europe |
Arcellx | September 2017 | Novo Ventures | Eastern USA |
Harmony Biosciences | September 2017 | Novo Ventures | Eastern USA |
Milestone Pharmaceuticals | June 2017 | Novo Ventures | Eastern USA |
Antag Therapeutics | May 2017 | Novo Seeds | Europe |
AFYX | April 2017 | Novo Seeds | Europe |
Avalyn | March 2017 | Novo Ventures | Western USA |
Cirius | March 2017 | Novo Ventures | Eastern USA |
ConvaTec | March 2017 | Principal Investments | Europe |
Evotec | February 2017 | Principal Investments | Europe |
Inozyme Pharma | January 2017 | Novo Ventures | Eastern USA |
Hoba Therapeutics | December 2016 | Novo Seeds | Europe |
Macrophage pharma | December 2016 | Novo Seeds | Europe |
Minerva Surgical | December 2016 | Novo Ventures | Eastern USA |
AMRA | November 2016 | Novo Seeds | Europe |
HepaRegeniX | November 2016 | Novo Seeds | Europe |
CorWave | October 2016 | Novo Seeds | Europe |
Tarveda Therapeutics | October 2016 | Novo Ventures | Eastern USA |
Bolt Biotherapeutics | September 2016 | Novo Ventures | Western USA |
Invisio | August 2016 | Novo Capital Investors | Europe |
NMD Pharma | June 2016 | Novo Seeds | Europe |
Rgenix | June 2016 | Novo Ventures | Eastern USA |
F2G Limited | June 2016 | Novo Ventures | Europe |
Verona Pharma | June 2016 | Novo Ventures | Europe |
ERT | May 2016 | Principal Investments | Eastern USA |
Spruce Biosciences | April 2016 | Novo Ventures | Western USA |
Synlab | February 2016 | Principal Investments | Europe |
Nkarta | October 2015 | Novo Ventures | Western USA |
DADES | July 2015 | Novo Capital Investors | Europe |
E-Scape Bio | July 2015 | Novo Ventures | Eastern USA |
Unchained Labs | February 2015 | Novo Ventures | Western USA |
Biosyntia | January 2015 | Novo Seeds | Europe |
Inthera Bioscience | January 2015 | Novo Seeds | Europe |
Galera Therapeutics | January 2015 | Novo Ventures | Eastern USA |
Sonion | July 2014 | Principal Investments | Europe |
Anokion | March 2014 | Novo Ventures | Europe |
IO Biotech | January 2014 | Novo Seeds | Europe |
Lysogene | January 2014 | Novo Seeds | Europe |
Xellia Pharmaceuticals | May 2013 | Principal Investments | Europe |
Avilex Pharma | February 2013 | Novo Seeds | Europe |
Forendo Pharma | January 2013 | Novo Seeds | Europe |
Reapplix | January 2013 | Novo Seeds | Europe |
Karus Therapeutics Ltd. | June 2012 | Novo Ventures | Europe |
Chr. Hansen | January 2012 | Principal Investments | Europe |
Galecto Biotech | November 2011 | Novo Seeds | Europe |
Acesion Pharma | January 2011 | Novo Seeds | Europe |
Orexo | April 2010 | Principal Investments | Europe |
Inogen | November 2006 | Principal Investments | Western USA |
References[]
- ^ http://www.novoholdings.dk/news-archive?field_date%5Bmin%5D=1483228801&field_date%5Bmax%5D=1514764799#1097
- ^ 2020 Annual report, Novo Holdings A/S: https://www.novoholdings.dk/wp-content/uploads/Novo-Holdings-Annual-Report-2020.pdf
- ^ CVR.dk - Annual Report 2019 Novo Holdings A/S: https://datacvr.virk.dk/data/offentliggorelse?dl_ref=amNsb3VkczovLzAzLzA1LzE1L2Y4L2RmLzE1NjMtNDIyNy05NWRkLTVmNmExNmEwNGI2MA
- ^ "Eivind Kolding bliver direktør for Novo A/S" (in Danish). Berlingske. Retrieved 2014-07-17.
- ^ http://borsen.dk/nyheder/virksomheder/artikel/1/326688/novos_pengetank_faar_ny_topchef.html
- ^ https://www.novoholdings.dk/investments/
- ^ http://novonordiskfonden.dk/en/content/ownership-and-subsidiaries
- ^ https://www.business.dk/ledelse/eivind-kolding-bliver-direktoer-for-novo-as
- ^ https://www.fiercebiotech.com/biotech/after-ousting-former-ceo-novo-a-s-puts-kutay-charge-57b-investment-vehicle
- ^ https://medwatch.dk/secure/Top_picks_in_english/article9923353.ece
- ^ https://www.novoholdings.dk/about/leadership/
- ^ Central Business Register, Denmark: https://datacvr.virk.dk/data/visenhed?enhedstype=virksomhed&id=24257630&soeg=24257630&language=da
- ^ https://www.reuters.com/article/pharmaceuticals-antibiotics-novo/novo-holdings-launches-165-mln-superbug-drug-venture-fund-idUSL8N1QI2M7
- ^ https://european-biotechnology.com/up-to-date/latest-news/news/novo-holdings-launches-eur135m-fund-to-combat-antimicrobial-resistance.html
- ^ https://www.repair-impact-fund.com/
- ^ https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=980152
- ^ https://2016.novo.dk/online/
- ^ Novo Holdings makes its first investment in an Asian health tech company: https://scandasia.com/novo-holdings-makes-its-first-investment-in-an-asian-health-tech-company/
- ^ "Novo køber norsk biotekselskab for fire milliarder kroner" (in Danish). Ingeniøren. Retrieved 2014-07-17.
- ^ "Novo betaler op mod 4 milliarder kroner for Sonion" (in Danish). Berlingske. Retrieved 2014-07-17.
- ^ http://www.pharmatimes.com/news/novo_to_buy_20_stake_in_uks_convatec_1190295
- ^ List of portfolio investments: https://www.novoholdings.dk/investments/
External links[]
- Holding companies of Denmark
- Companies based in Gentofte Municipality