# Novo Holdings' Biotech Investments: 88 Startups in Its Portfolio (2026) > The 88 Biotech startups Novo Holdings has backed, by stage: $9.4B raised between them. From the rounds we track; updated nightly. Source: https://millionrounds.com/portfolio-maps/novo-ventures-biotech-portfolio (Millionrounds; every figure on the page links to its filing or article) ## Series B 24 - [Windward Bio](https://millionrounds.com/company/windward-bio) - [Arcellx](https://millionrounds.com/company/arcellx) - [Expedition Therapeutics](https://millionrounds.com/company/expedition-therapeutics) - [Galera Therapeutics](https://millionrounds.com/company/galera-therapeutics) - [*BB* Bolt Biotherapeutics](https://millionrounds.com/company/bolt-biotherapeutics) - [FIRE1](https://millionrounds.com/company/fire1) - [Nuvig Therapeutics](https://millionrounds.com/company/nuvig-therapeutics) - [Freeline](https://millionrounds.com/company/freeline) - [GlycoEra](https://millionrounds.com/company/glycoera) - [Tarsa Therapeutics](https://millionrounds.com/company/tarsa-therapeutics) - [Therachon](https://millionrounds.com/company/therachon) - [AnaCardio](https://millionrounds.com/company/anacardio) - [Precirix](https://millionrounds.com/company/precirix) - [*P* PanOptica](https://millionrounds.com/company/panoptica) - [*AT* Aristea Therapeutics](https://millionrounds.com/company/aristea-therapeutics) - [Ra Pharmaceuticals](https://millionrounds.com/company/ra-pharmaceuticals) - [NeRRe Therapeutics](https://millionrounds.com/company/nerre-therapeutics) - [Ceterix Orthopaedics](https://millionrounds.com/company/ceterix-orthopaedics) - [The Protein Brewery](https://millionrounds.com/company/the-protein-brewery) - [Acesion Pharma](https://millionrounds.com/company/acesion-pharma) - [*ET* Entasis Therapeutics](https://millionrounds.com/company/entasis-therapeutics) - [Bactolife](https://millionrounds.com/company/bactolife) - [*N* NBE](https://millionrounds.com/company/nbe) - [*FT* Funxional Therapeutics](https://millionrounds.com/company/funxional-therapeutics) ## Series A 23 - [Morphic Therapeutic](https://millionrounds.com/company/morphic-therapeutic) - [Disc Medicine](https://millionrounds.com/company/disc-medicine) - [Alveus Therapeutics Inc.](https://millionrounds.com/company/alveus-therapeutics-inc) - [Callio Therapeutics](https://millionrounds.com/company/callio-therapeutics) - [Clasp Therapeutics](https://millionrounds.com/company/clasp-therapeutics) - [*IP* Inozyme Pharma](https://millionrounds.com/company/inozyme-pharma) - [Myricx Bio](https://millionrounds.com/company/myricx-bio) - [Newleos Therapeutics](https://millionrounds.com/company/newleos-therapeutics) - [Kivu Bioscience](https://millionrounds.com/company/kivu-bioscience) - [*T* Tioma](https://millionrounds.com/company/tioma) - [Antag Therapeutics](https://millionrounds.com/company/antag-therapeutics) - [*AP* Alizé Pharma 3](https://millionrounds.com/company/alize-pharma-3) - [Hillstar Bio](https://millionrounds.com/company/hillstar-bio) - [*GP* Genoa Pharmaceuticals](https://millionrounds.com/company/genoa-pharmaceuticals) - [*DT* Delenex Therapeutics](https://millionrounds.com/company/delenex-therapeutics) - [Coave Therapeutics](https://millionrounds.com/company/coave-therapeutics) - [Asgard Therapeutics](https://millionrounds.com/company/asgard-therapeutics) - [Hoba Therapeutics](https://millionrounds.com/company/hoba-therapeutics) - [Tribune Therapeutics](https://millionrounds.com/company/tribune-therapeutics) - [STipe Therapeutics](https://millionrounds.com/company/stipe-therapeutics) - [Forendo Pharma](https://millionrounds.com/company/forendo-pharma) - [Outpost Medicine](https://millionrounds.com/company/outpost-medicine) - [*M* Macrophage](https://millionrounds.com/company/macrophage) ## Stage not reported 20 - [Mirum Pharmaceuticals](https://millionrounds.com/company/mirum-pharmaceuticals) - [Cogent Biosciences](https://millionrounds.com/company/cogent-biosciences) - [LEXEO Therapeutics](https://millionrounds.com/company/lexeo-therapeutics) - [CARGO Therapeutics](https://millionrounds.com/company/cargo-therapeutics) - [Aligos Therapeutics](https://millionrounds.com/company/aligos-therapeutics) - [*A* Anokion](https://millionrounds.com/company/anokion) - [Reunion Neuroscience](https://millionrounds.com/company/reunion-neuroscience) - [*M* Minervax](https://millionrounds.com/company/minervax) - [Inozyme](https://millionrounds.com/company/inozyme) - [*NP* NeuroTherapeutics Pharma](https://millionrounds.com/company/neurotherapeutics-pharma) - [MediQuest Therapeutics](https://millionrounds.com/company/mediquest-therapeutics) - [Mission Bio](https://millionrounds.com/company/mission-bio) - [Biomason](https://millionrounds.com/company/biomason) - [Tarveda Therapeutics](https://millionrounds.com/company/tarveda-therapeutics) - [HepaRegeniX](https://millionrounds.com/company/heparegenix) - [Cleveland Diagnostics](https://millionrounds.com/company/cleveland-diagnostics) - [AFYX Therapeutics](https://millionrounds.com/company/afyx-therapeutics) - [*A* Amra](https://millionrounds.com/company/amra) - [Chromologics](https://millionrounds.com/company/chromologics) - [Booster Therapeutics](https://millionrounds.com/company/booster-therapeutics) ## Series C and later 16 - [Terremoto Biosciences](https://millionrounds.com/company/terremoto-biosciences) - [ADCendo](https://millionrounds.com/company/adcendo) - [Alentis Therapeutics](https://millionrounds.com/company/alentis-therapeutics) - [Unchained Labs](https://millionrounds.com/company/unchained-labs) - [Bluejay Therapeutics](https://millionrounds.com/company/bluejay-therapeutics) - [Glycomine](https://millionrounds.com/company/glycomine) - [Hemab](https://millionrounds.com/company/hemab) - [Hummingbird Bioscience](https://millionrounds.com/company/hummingbird-bioscience) - [ReViral](https://millionrounds.com/company/reviral) - [*ST* SiteOne Therapeutics](https://millionrounds.com/company/siteone-therapeutics) - [*M* MedGenome](https://millionrounds.com/company/medgenome) - [NorthSea Therapeutics](https://millionrounds.com/company/northsea-therapeutics) - [*ST* Synosia Therapeutics](https://millionrounds.com/company/synosia-therapeutics) - [CellBiosciences](https://millionrounds.com/company/cellbiosciences) - [*SH* Swift Health Systems](https://millionrounds.com/company/swift-health-systems) - [NBE-Therapeutics](https://millionrounds.com/company/nbe-therapeutics) ## Pre-seed and seed 3 - [Engimmune Therapeutics](https://millionrounds.com/company/engimmune-therapeutics) - [Draupnir Bio](https://millionrounds.com/company/draupnir-bio) - [Commit Biologics](https://millionrounds.com/company/commit-biologics) ## Growth 2 - [MDLIVE](https://millionrounds.com/company/mdlive) - [Route 92 Medical](https://millionrounds.com/company/route-92-medical) ## Segment by segment ### Series B 24 startups · $2.9B raised - [**Windward Bio**](https://millionrounds.com/company/windward-bio) Windward Bio is a clinical-stage biotechnology company with deep discovery, development, and commercialization expertise committed Switzerland $365M - [**Arcellx**](https://millionrounds.com/company/arcellx) Arcellx is a clinical-stage biotechnology company focused on developing innovative immunotherapies for cancer and other incurable diseases. United States $285M - [**Expedition Therapeutics**](https://millionrounds.com/company/expedition-therapeutics) Expedition Therapeutics is a biotechnology company based in San Francisco, founded in 2024. United States $280M - [**Galera Therapeutics**](https://millionrounds.com/company/galera-therapeutics) Galera Therapeutics develops therapeutic agents for preventing damage to normal tissues during the radiation treatment of cancer. United States $219M - [*BB* **Bolt Biotherapeutics**](https://millionrounds.com/company/bolt-biotherapeutics) Bolt Biotherapeutics is a biotechnology company that develops a platform for cancer immunotherapy. United States $189M - [**FIRE1**](https://millionrounds.com/company/fire1) FIRE1, officially known as The Foundry Innovation and Research 1, Ltd., is a connected medical device company based in Dublin, Ireland. Ireland $170M - [**Nuvig Therapeutics**](https://millionrounds.com/company/nuvig-therapeutics) Nuvig Therapeutics is advancing innovative and transformational therapies that are designed to induce natural mechanisms to restore immune. United States $161M - [**Freeline**](https://millionrounds.com/company/freeline) Freeline Therapeutics specializes in CMC process development, analytics and AAV technologies. United Kingdom $142M ### Series A 23 startups · $2.2B raised - [**Morphic Therapeutic**](https://millionrounds.com/company/morphic-therapeutic) Morphic Therapeutic is a biotechnology company that develops oral integrin therapies to treat serious chronic diseases. United States $328M - [**Disc Medicine**](https://millionrounds.com/company/disc-medicine) Disc Medicine is a biopharmaceutical company that develops therapies for hematologic diseases and rare blood disorders. United States $275M - [**Alveus Therapeutics Inc.**](https://millionrounds.com/company/alveus-therapeutics-inc) Alveus Therapeutics Inc is a clinical-stage biotechnology company focused on developing innovative therapies for obesity and metab United States $197M - [**Callio Therapeutics**](https://millionrounds.com/company/callio-therapeutics) Callio Therapeutics is a biotechnology company founded in 2025, focused on developing next-generation dual-payload antibody-drug c United States $187M - [**Clasp Therapeutics**](https://millionrounds.com/company/clasp-therapeutics) Clasp Therapeutics is a clinical-stage biotechnology company founded in 2020, focused on precision immuno-oncology. United States $150M - [*IP* **Inozyme Pharma**](https://millionrounds.com/company/inozyme-pharma) United States $116M - [**Myricx Bio**](https://millionrounds.com/company/myricx-bio) Myricx Bio is a biotechnology company that develops novel NMT inhibitor payloads for ADCs to treat cancer. United Kingdom $115M - [**Newleos Therapeutics**](https://millionrounds.com/company/newleos-therapeutics) Newleos Therapeutics is a clinical-stage neuroscience and biotechnology company based in Boston, Massachusetts. United States $94M ### Stage not reported 20 startups · $1.8B raised - [**Mirum Pharmaceuticals**](https://millionrounds.com/company/mirum-pharmaceuticals) Mirum Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of therapies. United States $669M - [**Cogent Biosciences**](https://millionrounds.com/company/cogent-biosciences) Cogent Biosciences is a biotechnology company that develops therapies for solid cancer tumors. United States $200M - [**LEXEO Therapeutics**](https://millionrounds.com/company/lexeo-therapeutics) LEXEO Therapeutics utilizes gene therapy to treat genetically defined cardiovascular and central nervous system diseases. United States $154M - [**CARGO Therapeutics**](https://millionrounds.com/company/cargo-therapeutics) CARGO Therapeutics develops an adoptive cell therapy to benefit patients from potentially curative treatment options. United States $110M - [**Aligos Therapeutics**](https://millionrounds.com/company/aligos-therapeutics) Aligos Therapeutics is discovering and developing new classes of molecules that interact directly with disease-causing modalities. United States $105M - [*A* **Anokion**](https://millionrounds.com/company/anokion) Switzerland $75M - [**Reunion Neuroscience**](https://millionrounds.com/company/reunion-neuroscience) Reunion Neuroscience is a clinical-stage pharmaceutical company developing therapeutic solutions for underserved mental health conditions. Canada $69M - [*M* **Minervax**](https://millionrounds.com/company/minervax) Denmark $62M ### Series C and later 16 startups · $2.2B raised - [**Terremoto Biosciences**](https://millionrounds.com/company/terremoto-biosciences) Terremoto Biosciences is a clinical-stage biotechnology company founded in 2021, focused on covalent drug discovery and development. United States $283M - [**ADCendo**](https://millionrounds.com/company/adcendo) Adcendo ApS is a clinical-stage biotechnology company based in Frederiksberg, Copenhagen, Denmark, with operational offices in Bos Denmark $210M - [**Alentis Therapeutics**](https://millionrounds.com/company/alentis-therapeutics) Alentis Therapeutics is a clinical-stage biotechnology company based in Basel, Switzerland. Switzerland $194M - [**Unchained Labs**](https://millionrounds.com/company/unchained-labs) Unchained 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 - [**Bluejay Therapeutics**](https://millionrounds.com/company/bluejay-therapeutics) Bluejay Therapeutics is a private biopharmaceutical company focused on the development of cures for infectious diseases. United States $182M - [**Glycomine**](https://millionrounds.com/company/glycomine) Glycomine is an early-stage biotech working on replacement therapies for rare diseases. United States $160M - [**Hemab**](https://millionrounds.com/company/hemab) Hemab is a clinical-stage biotech company developing prophylactic therapeutics for serious, underserved bleeding and thrombotic disorders. Denmark $157M - [**Hummingbird Bioscience**](https://millionrounds.com/company/hummingbird-bioscience) Hummingbird Bioscience is a precision biotherapeutics company based in Singapore, founded in 2015. Singapore $144M ### Pre-seed and seed 3 startups · $35M raised - [**Engimmune Therapeutics**](https://millionrounds.com/company/engimmune-therapeutics) Engimmune Therapeutics is a Swiss biotechnology company founded in 2021, focused on developing AI-guided soluble T-cell receptor (Switzerland $16M - [**Draupnir Bio**](https://millionrounds.com/company/draupnir-bio) Draupnir Bio is a Danish biotechnology company based in Copenhagen, with research operations in Aarhus. Denmark $13M - [**Commit Biologics**](https://millionrounds.com/company/commit-biologics) Commit Biologics is a Danish biotechnology company founded in 2021 as a spin-out from Aarhus University. Denmark $5.7M ### Growth 2 startups · $187M raised - [**MDLIVE**](https://millionrounds.com/company/mdlive) MDLIVE is a virtual healthcare services platform that offers primary care, dermatology, and mental health care services. United States $124M - [**Route 92 Medical**](https://millionrounds.com/company/route-92-medical) Route 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 [All portfolios](https://millionrounds.com/portfolio-maps) [Sector portfolio **Novo Holdings' Pharma portfolio** 17 startups · $2.8B](https://millionrounds.com/portfolio-maps/novo-ventures-pharma-portfolio)[Portfolio map **Novo Holdings portfolio map** 123 startups · $21B](https://millionrounds.com/portfolio-maps/novo-ventures-portfolio-map)[Co-investors **Who invests with Novo Holdings** 87 co-investors](https://millionrounds.com/portfolio-maps/novo-ventures-co-investors)[Investments abroad **Novo Holdings' investments in the United States** 64 startups · $11B](https://millionrounds.com/portfolio-maps/novo-ventures-investments-united-states)[Sector portfolio **Seed Capital's AI portfolio** 25 startups · $238M](https://millionrounds.com/portfolio-maps/seed-capital-ai-portfolio)[Sector portfolio **ByFounders' AI portfolio** 20 startups · $562M](https://millionrounds.com/portfolio-maps/byfounders-ai-portfolio) ## Raising from investors like Novo Holdings? 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