Novo Holdings Announces Acquisition of Elektrofi by Halozyme

Boston, US – October 1, 2025 –Novo Holdings, a leading international life science investor, today announced that its portfolio company Elektrofi has entered into a definitive agreement to be acquired by Halozyme, a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies. Halozyme will acquire Elektrofi for $750 million in upfront consideration, with additional consideration of up to three $50 million milestone payments contingent on three separate product regulatory approvals.

Elektrofi’s Hypercon™ technology is an innovative microparticle approach enabling high protein concentrations while maintaining syringeability, the ability to inject smoothly and easily. The increased concentrations reduce the volume of injection for the same dosage and will create more opportunities for at-home and HCP office delivery, including via small volume auto-injector or with Halozyme's innovative high volume auto-injector.

Noel Jee, Partner, Growth Investments, Novo Holdings, said, “Novo Holdings has played a pivotal role in helping Elektrofi scale its technology and rapidly advance its partnered projects. The acquisition highlights the Growth Investments team’s role in backing new methods of delivery to meet patient needs for life-transforming medicines.” Novo Holdings co-led Elektrofi’s $112.25M Series C financing in 2024.

Chase Coffman, Chief Executive Officer of Elektrofi, said, “Since Elektrofi's founding, we have been committed to revolutionizing the delivery of biologic therapies so that patients can live life on their terms. We are deeply grateful for the support of our investors who have brought us to this exciting new chapter with Halozyme. With partners like Novo Holdings, we were able to scale our proprietary technology in the interest of bringing life-changing medicines to patients across the globe as quickly as possible.”

About Elektrofi
Elektrofi is a biopharmaceutical formulation technology company that is revolutionizing the delivery of biologic therapies by giving patients the ability to control how they want to receive and benefit from life-changing medicines. Its breakthrough hyper concentrated microparticle technology, Hypercon^TM, resolves the limitations associated with intravenously delivered biologic therapies by enabling convenient at-home subcutaneous self-administration. With a focus on monoclonal antibodies, therapeutic proteins, and other large molecule drugs, they create, develop, and commercialize subcutaneous biologic therapies in collaboration with strategic partners. Elektrofi believes a patient-centered healthcare approach can lead to a healthier world.  The company is headquartered in Boston and innovates globally.

About Novo Holdings
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novonesis and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure, and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Planetary Health Investments, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2024, Novo Holdings had total assets of USD 148 billion.