Sector portfolio · VC firm · Denmark

Novo Holdings' Biotech portfolio

Novo Holdings has backed 88 Biotech startups in rounds we track, $9.4B between them, shown by the stage each has reached. The best-funded is Mirum Pharmaceuticals.

88startups backed
6stages
$9.4Braised between them
Series Bbiggest stage

Novo Holdings's whole portfolioNovo Holdings's profile

Series B

24

Series A

23

Stage not reported

20

Series C and later

16

Pre-seed and seed

3

Growth

2

Segment by segment

Series B

24 startups · $2.9B raised

  1. Windward BioWindward Bio is a clinical-stage biotechnology company with deep discovery, development, and commercialization expertise committedSwitzerland$365M
  2. ArcellxArcellx is a clinical-stage biotechnology company focused on developing innovative immunotherapies for cancer and other incurable diseases.United States$285M
  3. Expedition TherapeuticsExpedition Therapeutics is a biotechnology company based in San Francisco, founded in 2024.United States$280M
  4. Galera TherapeuticsGalera Therapeutics develops therapeutic agents for preventing damage to normal tissues during the radiation treatment of cancer.United States$219M
  5. BBBolt BiotherapeuticsBolt Biotherapeutics is a biotechnology company that develops a platform for cancer immunotherapy.United States$189M
  6. FIRE1FIRE1, officially known as The Foundry Innovation and Research 1, Ltd., is a connected medical device company based in Dublin, Ireland.Ireland$170M
  7. Nuvig TherapeuticsNuvig Therapeutics is advancing innovative and transformational therapies that are designed to induce natural mechanisms to restore immune.United States$161M
  8. FreelineFreeline Therapeutics specializes in CMC process development, analytics and AAV technologies.United Kingdom$142M

Series A

23 startups · $2.2B raised

  1. Morphic TherapeuticMorphic Therapeutic is a biotechnology company that develops oral integrin therapies to treat serious chronic diseases.United States$328M
  2. Disc MedicineDisc Medicine is a biopharmaceutical company that develops therapies for hematologic diseases and rare blood disorders.United States$275M
  3. Alveus Therapeutics Inc.Alveus Therapeutics Inc is a clinical-stage biotechnology company focused on developing innovative therapies for obesity and metabUnited States$197M
  4. Callio TherapeuticsCallio Therapeutics is a biotechnology company founded in 2025, focused on developing next-generation dual-payload antibody-drug cUnited States$187M
  5. Clasp TherapeuticsClasp Therapeutics is a clinical-stage biotechnology company founded in 2020, focused on precision immuno-oncology.United States$150M
  6. IPInozyme PharmaUnited States$116M
  7. Myricx BioMyricx Bio is a biotechnology company that develops novel NMT inhibitor payloads for ADCs to treat cancer.United Kingdom$115M
  8. Newleos TherapeuticsNewleos Therapeutics is a clinical-stage neuroscience and biotechnology company based in Boston, Massachusetts.United States$94M

Stage not reported

20 startups · $1.8B raised

  1. Mirum PharmaceuticalsMirum Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of therapies.United States$669M
  2. Cogent BiosciencesCogent Biosciences is a biotechnology company that develops therapies for solid cancer tumors.United States$200M
  3. LEXEO TherapeuticsLEXEO Therapeutics utilizes gene therapy to treat genetically defined cardiovascular and central nervous system diseases.United States$154M
  4. CARGO TherapeuticsCARGO Therapeutics develops an adoptive cell therapy to benefit patients from potentially curative treatment options.United States$110M
  5. Aligos TherapeuticsAligos Therapeutics is discovering and developing new classes of molecules that interact directly with disease-causing modalities.United States$105M
  6. AAnokionSwitzerland$75M
  7. Reunion NeuroscienceReunion Neuroscience is a clinical-stage pharmaceutical company developing therapeutic solutions for underserved mental health conditions.Canada$69M
  8. MMinervaxDenmark$62M

Series C and later

16 startups · $2.2B raised

  1. Terremoto BiosciencesTerremoto Biosciences is a clinical-stage biotechnology company founded in 2021, focused on covalent drug discovery and development.United States$283M
  2. ADCendoAdcendo ApS is a clinical-stage biotechnology company based in Frederiksberg, Copenhagen, Denmark, with operational offices in BosDenmark$210M
  3. Alentis TherapeuticsAlentis Therapeutics is a clinical-stage biotechnology company based in Basel, Switzerland.Switzerland$194M
  4. Unchained LabsUnchained Labs is a developer of life science biologics tools designed to help researchers break free from tools that just don't cut it.United States$193M
  5. Bluejay TherapeuticsBluejay Therapeutics is a private biopharmaceutical company focused on the development of cures for infectious diseases.United States$182M
  6. GlycomineGlycomine is an early-stage biotech working on replacement therapies for rare diseases.United States$160M
  7. HemabHemab is a clinical-stage biotech company developing prophylactic therapeutics for serious, underserved bleeding and thrombotic disorders.Denmark$157M
  8. Hummingbird BioscienceHummingbird Bioscience is a precision biotherapeutics company based in Singapore, founded in 2015.Singapore$144M

Pre-seed and seed

3 startups · $35M raised

  1. Engimmune TherapeuticsEngimmune Therapeutics is a Swiss biotechnology company founded in 2021, focused on developing AI-guided soluble T-cell receptor (Switzerland$16M
  2. Draupnir BioDraupnir Bio is a Danish biotechnology company based in Copenhagen, with research operations in Aarhus.Denmark$13M
  3. Commit BiologicsCommit Biologics is a Danish biotechnology company founded in 2021 as a spin-out from Aarhus University.Denmark$5.7M

Growth

2 startups · $187M raised

  1. MDLIVEMDLIVE is a virtual healthcare services platform that offers primary care, dermatology, and mental health care services.United States$124M
  2. Route 92 MedicalRoute 92 Medical is a medical device company developing a catheter to treat stroke.United States$63M

How this map is made. Every startup here works in Biotech and has raised money in a round we track that names Novo Holdings as an investor. Each sits under the stage of its latest round. Rebuilt nightly; updated 15 November 2026.

More portfolio maps

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Sector portfolioNovo Holdings' Pharma portfolio17 startups · $2.8BPortfolio mapNovo Holdings portfolio map123 startups · $21BCo-investorsWho invests with Novo Holdings87 co-investorsInvestments abroadNovo Holdings' investments in the United States64 startups · $11BSector portfolioSeed Capital's AI portfolio25 startups · $238MSector portfolioByFounders' AI portfolio20 startups · $562M

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