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Novo Annual Review 2016
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growing tomorrow?s
biotech
successes i t is novo seeds? vision to create an even stronger nordic
biotech
industry. we do this by building and investing in startup
companies
founded on strong science and innovative products with the potential to transform patient treatment. in close collaboration with leading researchers, academic institutions, entrepreneurs and leaders in the
biotech
industry, we turn promising life science discoveries into viable businesses. the commercial value is developed and matured through two routes: pre-seed grants for concepts that need maturation and capital investment in projects with a solid plan. since 2007, we have built and exited three
companies
and created a pipeline of
biotech
startups that are currently developing their portfolio towards commercialisation and success. today, our portfolio consists of 19 active seed
companies
and 19 pre-seed projects, primarily from the nordic region. we cover the spectrum from early-stage discovery through to clinical-stage
companies
. an exciting year in 2016, the seeds unit invested in seven
new
startups and invested about dkk 100 million in our portfolio
companies
. in scandinavia,
new
startups such as nmd pharma (dk), hoba (dk) and merozyne (se) were launched with novo seeds as company creator and lead investor. these
companies
are prime examples of how we turn advanced science into exciting
new
spinouts. we also lead larger series a financings in the immuno- oncology startup, macrophage pharma (uk); the medical device company, corwave (fr); the liver regeneration company, heparegenix (de); and the medical imaging play, amra (se). overall, we have increased investments outside the nordics, thereby leveraging our approach to building
new
biotech
companies
. furthermore, we are continuously expanding the investor network, bringing commercial competence to the region. through our investment activity in 2016, we raised capital by attracting 10
new
co-investors to portfolio
companies
. in addition, we awarded on behalf of the novo nordisk foundation eight pre-seed grants to promising early-stage research in the nordics. these grants focus on developing the commercial potential of ambitious academic discoveries. in the coming years we will increase our investment activities in both the nordics and other parts of europe. a key part of building a
biotech
company is the management. therefore, in 2017, we plan to establish an entrepreneur in residence programme with the goal of having strong management competencies available to
biotech
startups. as our portfolio matures, we will focus on delivering more
biotech
successes that will illustrate the ability of the nordic
biotech
industry to translate innovative science to products. products that attract the pharma industry, and will drive exits and value creation. seed investments the most promising early-stage
biotech
companies
are developed and financed through seed investments. through our hands-on approach, we transform innovative science into products that address unmet healthcare needs and improve quality of life. as access to capital is always a challenge for early-stage
companies
, we place great emphasis on working closely with other regional and international venture funds. this relation not only brings capital; it also gives access to talent and network, which are a critical success factors. significant investment represents an important validation for a
biotech
company. in 2016, co-investors contributed more than twice as much capital to our portfolio compared to novo seeds ? a significant recognition of quality. pre-seed grants one way in which we identify and develop
new
startups is through the pre-seed grant programme. awarded on behalf of the novo nordisk foundation, our pre-seed grants are given to early-stage, highly qualified academic research projects with promising commercial potential. before and during the grant phase, we work closely with each project to help them sharpen their plan and grow. in this way, we begin to set the team for a future spinout company, and provide each project with the best conditions to develop into attractive seed investments. 41 novo seeds
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