# Novo Holdings' Pharma Investments: 17 Startups in Its Portfolio (2026) > The 17 Pharma startups Novo Holdings has backed, by stage: $2.8B raised between them. From the rounds we track; updated nightly. Source: https://millionrounds.com/portfolio-maps/novo-ventures-pharma-portfolio (Millionrounds; every figure on the page links to its filing or article) ## Series B 6 - [*CT* Crystalys Therapeutics](https://millionrounds.com/company/crystalys-therapeutics) - [Allakos](https://millionrounds.com/company/allakos) - [KalVista Pharmaceuticals](https://millionrounds.com/company/kalvista-pharmaceuticals) - [Claris Biotherapeutics](https://millionrounds.com/company/claris-biotherapeutics) - [Invetx](https://millionrounds.com/company/invetx) - [Biosyntia](https://millionrounds.com/company/biosyntia) ## Stage not reported 5 - [Harmony Biosciences](https://millionrounds.com/company/harmony-biosciences) - [21st.BIO](https://millionrounds.com/company/21st-bio) - [Thesan Pharmaceuticals](https://millionrounds.com/company/thesan-pharmaceuticals) - [Spruce Biosciences](https://millionrounds.com/company/spruce-biosciences) - [Muna Therapeutics](https://millionrounds.com/company/muna-therapeutics) ## Series C and later 4 - [MapLight Therapeutics](https://millionrounds.com/company/maplight-therapeutics) - [OMass Therapeutics](https://millionrounds.com/company/omass-therapeutics) - [Cyteir Therapeutics](https://millionrounds.com/company/cyteir-therapeutics) - [Avalyn Pharma](https://millionrounds.com/company/avalyn-pharma) ## Series A 2 - [Augustine Therapeutics](https://millionrounds.com/company/augustine-therapeutics) - [Rondo Therapeutics](https://millionrounds.com/company/rondo-therapeutics) ## Segment by segment ### Series B 6 startups · $952M raised - [*CT* **Crystalys Therapeutics**](https://millionrounds.com/company/crystalys-therapeutics) United States $335M - [**Allakos**](https://millionrounds.com/company/allakos) Allakos is a biotechnology company developing therapeutic antibodies targeting allergy, inflammatory and proliferative diseases. United States $294M - [**KalVista Pharmaceuticals**](https://millionrounds.com/company/kalvista-pharmaceuticals) KalVista Pharmaceuticals focuses on developing oral medicines, particularly for managing hereditary angioedema. United States $125M - [**Claris Biotherapeutics**](https://millionrounds.com/company/claris-biotherapeutics) Claris Biotherapeutics is a late-clinical stage biotechnology company based in Jersey City, New Jersey. United States $124M - [**Invetx**](https://millionrounds.com/company/invetx) Invetx is a veterinary therapeutics company that develops protein-based therapeutics for the treatment of various animal diseases. United States $61M - [**Biosyntia**](https://millionrounds.com/company/biosyntia) Biosyntia ApS is a Danish industrial biotech company founded in 2012, specializing in bio-based manufacturing processes through pr Denmark $14M ### Stage not reported 5 startups · $471M raised - [**Harmony Biosciences**](https://millionrounds.com/company/harmony-biosciences) Harmony Biosciences is a pharmaceutical company that develops and commercializes novel therapies for rare neurological disorders. United States $248M - [**21st.BIO**](https://millionrounds.com/company/21st-bio) 21st.BIO is a biotechnology company based in Copenhagen, Denmark, founded in 2020. Denmark $97M - [**Thesan Pharmaceuticals**](https://millionrounds.com/company/thesan-pharmaceuticals) Thesan Pharmaceuticals is a preclinical biopharmaceutical company developing novel therapeutics for skin disorders. United States $65M - [**Spruce Biosciences**](https://millionrounds.com/company/spruce-biosciences) Spruce Biosciences is a biopharmaceutical company developing therapies for rare diseases that target the endocrine system. United States $60M - [**Muna Therapeutics**](https://millionrounds.com/company/muna-therapeutics) Muna Therapeutics discovers and develops therapies that slow or stop neurodegenerative diseases such as alzheimer’s and parkinson's. Denmark $1.0M ### Series C and later 4 startups · $1.2B raised - [**MapLight Therapeutics**](https://millionrounds.com/company/maplight-therapeutics) MapLight Therapeutics is a biopharma company that offers a platform designed to discover and develop therapeutics for brain disorders. United States $523M - [**OMass Therapeutics**](https://millionrounds.com/company/omass-therapeutics) OMass Therapeutics is a biotechnology company located in Oxford, UK, focused on discovering and developing novel small molecule me United Kingdom $442M - [**Cyteir Therapeutics**](https://millionrounds.com/company/cyteir-therapeutics) Cyteir is developing the next generation of synthetic lethal therapies to treat cancer. United States $126M - [**Avalyn Pharma**](https://millionrounds.com/company/avalyn-pharma) Avalyn Pharma is a biopharma company developing therapies for the treatment of idiopathic pulmonary fibrosis and other respiratory diseases. United States $100M ### Series A 2 startups · $151M raised - [**Augustine Therapeutics**](https://millionrounds.com/company/augustine-therapeutics) Augustine Therapeutics is a Belgian biotechnology company founded in 2019 and based in Leuven. Belgium $84M - [**Rondo Therapeutics**](https://millionrounds.com/company/rondo-therapeutics) Rondo Therapeutics is a clinical-stage biopharmaceutical company based in Hayward, California, focused on developing next-generati United States $67M **How this map is made.** Every startup here works in Pharma 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' Biotech portfolio** 88 startups · $9.4B](https://millionrounds.com/portfolio-maps/novo-ventures-biotech-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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