Following a successful 25-year career in the Novo Group, Michael Shalmi, Managing Director of Principal Investments, Novo Holdings has decided to step down.

Michael Shalmi joined Novo Holdings in 2009 and has since 2015 been Managing Director of its Principal Investments team which invests in large well-established life science companies in Europe and the United States.

Novo Holdings’ annual return on life science investments stands at 21% for the past 5 years, and the Principal Investments portfolio comprises 13 companies and 5 investments in international private equity funds.

“I would like to thank Michael for his many years of leadership, service and dedication. Over the past few years, he has led the formation of our Principal Investments team into a world leading life science investor in terms of size, network and returns. I wish Michael all the best in his future endeavours,” says Kasim Kutay, CEO, Novo Holdings.

Michal Shalmi says: “I am grateful for the opportunities that I have had during the past 25 years in the Novo Group. Stepping down from Novo Holdings at this time provides me with an opportunity to work on broader business and leadership challenges. It has been a fantastic privilege to both recruit and lead an outstanding group of investment professionals and to successfully execute on our mission of generating attractive long-term returns for the Novo Nordisk Foundation. Now is the right time to leave Novo Holdings when the company has great momentum and plans to further increase its life science investments.”

Before joining Novo Holdings, Michal Shalmi spent 15 years at Novo Nordisk where he held a number of international management positions with global responsibilities, both in and outside Denmark. He is an MD and holds an MBA. He will continue to serve as the representative of Novo Holdings on the supervisory board of Evotec.

Kasim Kutay will be assuming the role of interim head of Principal Investments until a permanent successor to Michael Shalmi is found.

About Novo Holdings A/S

Novo Holdings is a Danish private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Foundation’s assets.

In addition to being the major shareholder in the Novo Group companies, Novo Holdings provides seed and venture capital to development-stage companies, takes significant ownership positions in well-established companies within the life sciences and manages a broad portfolio of financial assets.

The vision of Novo Holdings is to be recognized as a world-leading life science investor with a focus on creating long-term value. Read more at www.novoholdings.dk.

About the Novo Nordisk Foundation

The Novo Nordisk Foundation is an independent Danish foundation with corporate interests. It has two objectives: 1) to provide a stable basis for the commercial and research activities of the companies in the Novo Group; and 2) to support scientific, humanitarian and social causes.

The vision of the Foundation is to contribute significantly to research and development that improves the lives of people and the sustainability of society. Since 2010, the Foundation has donated more than DKK 16 billion (€2.1 billion), primarily for research at public institutions and hospitals in Denmark and the other Nordic countries. Read more at www.novonordiskfonden.dk/en