Novo Holdings is looking for a few good superbug biotechs in need of early-stage funding — investing $165M
There aren’t many venture funds out there in biotech land that embrace startups looking to develop a new generation of antibiotics for the growing menace posed by drug-resistant superbugs.
So the people who manage Novo Nordisk Foundation’s $60 billion are making one.
Novo Holdings says it has set up a $165 million transAtlantic fund designed specifically to invest in early-stage biotechs laboring in one of the hardest fields in R&D. The fund will look to provide $20 million to $40 million a year for 3 to 5 years to back a portfolio of startups in Europe and the US with cold, hard cash. Their investments will range from $1 million to $15 million in 20 companies, looking for at least one new therapy in the bunch.
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