2023 Novo Holdings Asia Investments Annual Review/Business Update

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Apr 03, 2024, 03:00 ET

Increasing momentum as we expanded our portfolio of investments, built the team and fostered new partnerships
Three new portfolio company investments and two existing portfolio company financing extensions
First ever Novo Nordisk and Novo Holdings Partnering Day focusing on Cardio Metabolic disease

COPENHAGEN, Denmark, April 3, 2024 /PRNewswire/ -- Novo Holdings Asia Investments team today publishes its annual review– a year of developing and building for long-term results.

Novo Holdings established the Asian life sciences investment platform in 2020, with offices in Singapore and expanded to Shanghai in 2022. The Asia Investments team is committed to identifying and investing in life science and healthcare companies that are leading innovators in their field. Investments in Asia complement and diversify Novo Holdings life science investment portfolio outside of Europe and the U.S. and look to harness the potential offered by the continent's market size, growth and quality of innovation. The Team's key focus markets are India, South-East Asia and China.

Dr. Amit Kakar, Managing Partner and Head of Novo Holdings Asia, said: "2023 was a year of increasing momentum as we continued to build the team and foster new partnerships. We added three new portfolio companies and our existing portfolio companies continue to grow. We have had a strong start to 2024 with our investment in Medi Assist, India's largest health benefits administrator which then completed a successful IPO, and Manipal Hospitals, one of the pre-eminent private hospital chains in India and our largest investment in Asia to date. We are looking forward to welcoming new portfolio companies, adding another office in the region and continuing to support and grow our existing portfolio companies."

For more information and to read the review in full, please visit link on our website.

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people's health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective.

In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, Asia, Bioindustrial and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk

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