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novo seeds - long version
Novo Seeds
Novo Seeds is a life science supporting program launched by the Novo Nordisk Foundation and Novo A/S. Novo Seeds has two components, a pre-seed funding capacity and a seed financing fund. Both aim at identifying and developing the unexplored commercial potential present in academic and early stage applied research projects at universities and biotech companies within life science in Scandinavia.
The pre-seed program supports early stage projects based on ideas and results with commercial potential. Funding is given as grants in the same manner as other grants awarded by the Novo Nordisk Foundation.
The seed fund aims at supporting more advanced projects and will operate on commercial terms, i.e. support is given to projects and companies in exchange for ownership or other rights to the companies/projects. Typically, the seed program will invest in newly formed companies that are too early in their development stage to be supported by Novo A/S’ venture capital or other international investors.
About Novo Seeds
Novo Seeds was launched in September 2007 as a new initiative from Novo A/S and the Novo Nordisk Foundation to provide funding for early stage projects and seed financing of new life science companies in Scandinavia. Through the Novo Seeds programs, the Novo Group can support all stages of life science development, from basic research grants from the Novo Nordisk Foundation through seed funding to venture financing from Novo A/S.
Novo Seeds is based within the Novo A/S organization, and has a large network within the Scandinavian and international biotech industry. We strive to leverage this extensive network to the benefit of our portfolio companies and the projects we support through our pre-seed grants.
Novo Seeds' focus
The pre-seed program is aimed at providing support for commercially interesting projects, typically originating from academic research institutions in Scandinavia, which are too early for seed investments. The pre-seed grants can be used for additional proof-of-principle studies, supportive investigations, and freedom to operate analysis or other activities which are required to prepare the project for a seed financing round.
The seed program focuses on Scandinavian life science companies. Our primary focus is projects for diagnosis, control, treatment, and prevention of disease. Novo Seeds aims to play a leading role in the financing, but welcomes syndication with other investors in its portfolio companies. In addition to financial support, Novo Seeds provides organisational, strategic and other assistance, typically anchored in one or more board seats in the portfolio companies.
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