Novo Nordisk’s Owner Backs Italian Fund for Drug Startups
Novo Holdings, the investment company behind Novo Nordisk and the wealth of the Novo Nordisk Foundation, is backing an Italian drug startup fund, according to Bloomberg. This move extends their pattern of investing in life sciences beyond Copenhagen, including European deep-tech initiatives with various funds.
Background
- Novo Holdings’ Profile: While not as well-known as Novo Nordisk, it controls the drugmaker and boasts significant assets, reaching DKK 694 billion (approximately €93 billion) by 2025.
- Investment Activities: The company invested around $749 million into startups in 2025, participating in eighteen private venture rounds, making them a prominent investor among BioPharma Dive’s tracked firms.
Strategic Move to Italy
Italy is a familiar market for Novo Holdings due to their 2024 acquisition of contract manufacturer Catalent, which granted them access to a fill-finish plant near Rome and €2 billion in additional investment through 2029, creating 800 jobs. This existing relationship facilitates their entry into Italian biotech.
The venture arm’s strategy has been focusing on acceleration hubs, including the BioInnovation Institute’s CardioMetabolic Bridge program, which aims to bridge academic research and commercial startups, with its first site in London and plans for Italy and Germany.
Context in Europe
European competitors are also making moves:
- Thena Capital: Recently closed a £45 million fund for UK medtech.
- BioLamina: Secured a €20 million EIB loan to scale cell therapy technology supplied to Novo Nordisk.
Italy’s government has been actively promoting domestic venture growth through initiatives like CDP Venture Capital’s National Innovation Fund. With Novo Holdings’ financial backing, the Italian startup ecosystem is poised for significant enhancement.