Venture Investments
We are a life science venture capital investor, delivering knowledge, network, and capital to companies.
Strategy
We strive to invest in companies that develop innovative drugs, medical devices and other technologies that improve patient care. We focus on generating strong financial returns from our portfolio of venture companies.
We invest in both private and public companies from an open evergreen fund. This funding structure enables us to take a long-term perspective.
With colleagues on the ground in Copenhagen, London, Singapore, San Francisco and Boston, we are well positioned in the major global life science hubs and can quickly respond to new and exciting investment opportunities wherever they emerge.
We invest in biotechnology, medical technology and digital health companies. Within biotech we primarily invest in companies with late preclinical or clinical stage compounds. In medtech and digital health, we prioritize commercial stage companies.
We work actively with the companies we invest in by serving on the Boards of Directors. Companies can also draw on our extensive network, as well as our commercial and scientific expertise within the life sciences.
Venture Investments deployed DKK 4.9 billion in 2024, including DKK 3.2 billion for 20 new investments. New portfolio companies include Obsidian Therapeutics, AvenCell Therapeutics, Kivu Biosciences, SiteOne Therapeutics, Convergent Therapeutics, Crystalys, Arrivent Biopharma, Reunion Neurosciences, Myricx Bio, Asceneuron, Zenas Biopharma and Magenta Medical.
Portfolio company milestones
Edgewise (EWTX) ended the year up 175% on positive clinical trial results in genetic heart disease and neuromuscular disorders.
Amolyt and its Phase 3 hypoparathyroidism product was acquired by AstraZeneca for USD 1.05 billion, resulting in a return of 59% since inception.
Numab sold its bi-specific antibody for atopic dermatitis to Johnson & Johnson for USD 1.2 billion, resulting in a gain of 62% since inception.
Vaxcyte (PCVX) ended the year up 56% on positive clinical data for its 31-valent pneumococcal conjugate vaccine and raised over USD 2.3 billion during the year.
Alentis Therapeutics raised USD 181.4 million in an oversubscribed Series D financing to advance the clinical development of Anti-Claudin-1 ADCs in solid tumours.
Exits and IPOs
Venture Investments exited 12 investments in 2024 and realised DKK 3.7 billion from the sale of publicly traded stock as well as from the divestment of several of its portfolio companies.
Venture Investments key figures
60
Number of Portfolio companies
€650m
Deployed during 2024
12
Investments exited during 2024
Our Venture Investments Portfolio
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Meet our team
With professionals based out of Copenhagen, San Francisco, Boston and London and an international network of commercial and scientific specialists, our team is geared to invest in the major life science hubs.
News
10/17/2025
Novo Holdings announces acquisition of portfolio company Nalu Medical by Boston Scientific
News
10/9/2025
Novo Holdings co-leads $165 million Series A financing of Expedition Therapeutics to advance next-generation COPD therapy
News
09/30/2025
Novo Holdings co-leads $205 million Series A financing of Crystalys Therapeutics to transform treatment of gout
News
07/28/2025
Novo Holdings participates in $372.5 million Series D financing of MapLight Therapeutics to advance differentiated CNS therapies