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.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER