New venture capital for biotech industry  

2004.02.10
Novo A/S has plans to invest DKK 2 billion in new promising biotech companies over the next 5 years

The majority shareholder of Novo Nordisk and Novozymes, Novo A/S, has plans to invest DKK 2 billion (USD 340 million) in new promising biotech companies over the next 5 years. Novo A/S respectively owns 27% and 26% of the share capital in Novo Nordisk and Novozymes and receives large dividends from both companies each year. Dividends for 2003 are expected to amount to DKK 450 million (USD 77 million), an increase of DKK 100 million (USD 17 million) compared to last year.

 

In 2002, Novo A/S invested in four new biotech companies including Life Cycle Pharma, a spin-off from pharmaceutical company Lundbeck. Novo also made further investments in several of its 23 portfolio companies. Half of the portfolio companies are located in North America while the other half are in the Nordic Region, mainly Denmark. Novo A/S is fully owned by the Novo Nordisk Foundation and is the hol

 

ding company of the Novo Group. It was established in 2000 and has since then made direct investments in portfolio companies for about DKK 700 million (USD 119 million), besides making indirect investments in foreign venture funds. The news is reported by national daily newspaper Jyllands-Posten.

 

Link > Novo A/S

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