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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