Novo Holdings Co-Leads $67 Million Series A Funding in Hillstar Bio to Advance Next-Generation Autoimmune Therapies

Investment supports development of precision immunotherapies targeting pathogenic immune cells, aiming to transform treatment for autoimmune diseases

COPENHAGEN & BOSTON, Mass., March 26, 2025 – Novo Holdings, a leading life science investor today announced that it has co-led a $67 million Series A financing round of Hillstar Bio, a leading biotechnology company focused on developing next-generation precision immunology therapies for autoimmune diseases. The raised funds will support the development of Hillstar Bio’s lead program targeting TRBV9+ T cells, a novel approach aimed at resetting the immune system to provide more durable and effective treatments for conditions such as axial spondyloathirtis (AxSpA) and other HLA-B27 associated diseases.

Novo Holdings participated as a lead investor in this financing round, alongside Droia Ventures, Frazier Life Sciences, LifeArc Ventures, and Hummingbird Bioscience. This diverse syndicate of investors from the U.S., Europe and Asia highlights the global enthusiasm for Hillstar Bio’s approach. As part of the investment, Kenneth Harrison, Ph.D., Senior Partner at Novo Holdings, will join Hillstar Bio’s Board of Directors.

Hillstar Bio is revolutionizing autoimmune disease treatment through a precision-driven approach that selectively depletes pathogenic cells while preserving healthy ones. This method holds the promise of providing durable relief and improving patient outcomes compared to traditional immunosuppressive therapies. Additionally, the company's versatile approach leverages tailored discovery techniques for each therapeutic, free from the constraints of traditional drug development platforms.

Hillstar Bio boasts a world-class team with deep expertise in antibody engineering, immunology, and clinical development. The company's approach combines cutting-edge scientific knowledge with a robust, risk-mitigating strategy, leveraging validated technologies and disease-specific biomarkers to identify the patient populations most likely to benefit from their treatments.

Ken Harrison, Senior Partner at Novo Holdings, said: "Hillstar Bio is breaking new ground in autoimmune treatment with a highly selective approach that targets pathogenic immune cells without broadly suppressing the immune system. This investment aligns with Novo Holdings’ strategy of supporting transformative therapies that address major unmet medical needs. We believe Hillstar Bio’s pioneering work has the potential to redefine the standard of care in autoimmune diseases."

Robert Mabry, Chief Executive Officer, Hillstar Bio, said: "The interplay between HLA-B27 and TRBV9+ T cells in autoimmune conditions like AxSpA offers a unique opportunity for our lead program. Our innovative approach aims to deliver longer-lasting, more effective results compared to current treatments, improving patient outcomes and potentially reducing the long-term need for immunosuppressive therapies. Our mission is to lead the next generation of precision immunology by developing therapies that match the right treatment to the right patient, breaking the cycle of inadequate therapies, and offering lasting relief to those battling autoimmune diseases. We are thankful for the support of our investors, who share our vision to advance the field of precision immunotherapies."

Luc Dochez, Executive Chair, Hillstar Bio and Managing Partner, Droia Ventures, commented: "We are excited to collaborate with the Hillstar Bio team in bringing groundbreaking, precision-driven immunotherapies to patients living with autoimmune diseases. Hillstar Bio has the critical elements necessary to transform autoimmune disease treatment, including top-tier antibody engineering capabilities, a deep understanding of immune cell biology, and an exceptional team of scientists, industry leaders, and advisors.”

With this latest investment, Novo Holdings continues to advance its mission of backing transformative healthcare solutions that improve lives globally. As Hillstar Bio progresses towards clinical trials, Novo Holdings is committed to working alongside the company and its investors to push the boundaries of medical innovation and bring impactful treatments to market.

About Hillstar Bio

Hillstar Bio is ushering in a new era in autoimmune disease treatment through precision immunology. The company selectively targets and depletes pathogenic immune cells while sparing healthy ones, offering the potential for durable relief and immune reset for patients with autoimmune conditions. Unlike traditional therapies that broadly suppress the immune system, Hillstar Bio's targeted approach addresses specific disease mechanisms by eliminating the underlying source and reducing the risks associated with chronic broad immunosuppression. Backed by a world-class investor and shareholder syndicate spanning the US, Europe, and Asia, including Droia Ventures, Frazier Life Sciences, Novo Holdings, LifeArc Ventures and Hummingbird Bioscience, Hillstar Bio is fully funded through early clinical studies to accelerate development of its TRBV9 program while expanding its pipeline of selective immune cell targeting therapies. To learn more visit www.hillstarbio.com and follow the company on LinkedIn.

About Novo Holdings A/S

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 A/S and Novonesis A/S (Novozymes A/S) 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, Asia, Planetary Health and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.  As of year-end 2023, Novo Holdings had total assets of EUR 149 billion.  www.novoholdings.dk

About the Novo Nordisk Foundation

Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.