Novo Holdings announces acquisition of portfolio company LimmaTech Biologics by Lilly

Novo Holdings portfolio company Limmatech today announced a definitive agreement to be acquired by Eli Lilly and Company (“Lilly”).

Novo Holdings first invested in LimmaTech through its REPAIR Impact Fund in 2023 to accelerate its pipeline of preclinical and clinical vaccine candidates against increasingly resistant and serious bacterial infections, and sexually transmitted diseases. Areas where the unmet need is substantial and innovation is urgently needed, but little capital is available.

The acquisition demonstrates that targeted investment in anti-infective solutions can contribute to both meaningful health impact and attractive financial returns, despite the structural challenges that have historically limited private investment in the field.

Camilla Petrycer Hansen, Partner, Novo Holdings, said: "Antimicrobial resistance remains a very underinvested area of global health. LimmaTech has shown what can be achieved when strong innovation and a highly experienced infectious disease team are combined with specialist capital.

We are pleased to have supported the company's development and to see a large pharmaceutical company recognise the importance of its work. We look forward to seeing LimmaTech continuing to innovate under the new ownership structure.”

Franz-Werner Haas, Chief Executive Officer, LimmaTech, said: “Joining Lilly is a powerful next chapter for our science and our team, which has been greatly supported by visionary investors like Novo Holdings. Lilly's global development capabilities, manufacturing scale and long-standing commitment to patients with serious disease, will realise the potential of our technology, enable us to accelerate our lead Staphylococcus aureus vaccine and to advance our preclinical gonorrhoea and chlamydia programmes.”

Building momentum in anti-infective innovation
Since its launch in 2018, Novo Holdings’ REPAIR Impact Fund has invested in companies developing novel approaches to combat antimicrobial resistance and has helped attract significant additional capital to the field.

The fund was established to help replenish the anti-infective pipeline by backing promising science through key stages of development, with a long-term investment horizon and a focus on both impact and financial sustainability.

The divestment of Novo Holdings' stake in LimmaTech follows other positive developments across the REPAIR portfolio, including the recent exit of Paratek, and highlights Novo Holdings' active role in supporting companies addressing some of the most pressing unmet needs in infectious disease.