Latest news with #NovoHoldings
Yahoo
a day ago
- Business
- Yahoo
GlycoEra raises $130M, riding interest in protein degraders
This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. A biotechnology startup developing drugs designed to eliminate troublesome proteins found outside of cells has raised $130 million to start its first clinical trial. The startup, GlycoEra, will use the Series B funds to generate initial clinical data for its lead program, an immune disease treatment dubbed GE8820. It intends to bring a second immune drug into human testing as well. GlycoEra views GE8820 as having the type of broad potential that could make it a 'pipeline in a product,' said company president and CEO Ganesh Kaundinya. The drug targets IgG4, a circulating antibody that can be protective against allergies, but malfunctions and attacks the body's own tissues in many autoimmune conditions, among them the skin disorder pemphigus and the kidney condition primary membranous nephropathy. GE8820 is a dual-acting drug that coaxes the body into destroying this defective IgG4. One part of the molecule binds to the antibody and drags it to the liver. The other part then latches onto a receptor that absorbs IgG4 into cells, where it's trashed by an internal protein-disposal system. According to GlycoEra, preclinical testing has shown the approach can remove malfunctioning IgG4 antibodies with the type of precision not seen with other approaches. By doing so, GE8820 may avoid the broadly immunosuppressive effects of other autoimmune medicines. It may also ease the 'burden on the healthcare system,' Kaundinya said. Patients typically 'get treated, they get better, they are fine, and then they come back to that relapse,' Kaundinya said. 'Our approach not only enables the patients to live better lives, it also overall contributes to better healthcare economics across the board.' GlycoEra has publicly disclosed three other programs behind GE8820, but hasn't specified which diseases they're targeting. The company could submit a request to begin trials for its second drug in 2026, according to its website. Novo Holdings led GlycoEra's Series B round, which involved the venture arms of Roche and Bristol Myers Squibb, Sofinnova Partners and several other firms. 'What really stood out with GlycoEra is that you had a use case here where, in autoimmune disease, there's limited competition, a high amount of medical need and the biological rationale is really strong,' said Novo Holdings partner Max Klement. 'As we see the autoimmune disease space evolve, precision medicine makers such as GlycoEra are going to come to the forefront.' GlycoEra is named after glycosylation, the process by which sugar chains are attached to proteins. The company is headquartered in Wädenswil, Switzerland and has a U.S. footprint in Newton, Massachusetts. It was spun out of Swiss biotech LimmaTech Biologics in January 2021, and raised approximately $49 million in Series A funding that November. The company's latest round is further evidence of continued interest in so-called protein degraders, which offer a way of getting to proteins traditional drugmaking methods can't reach. Research into protein degradation has taken off since the turn of the century, yielding an array of companies using different methods to destroy harmful proteins. Many of these companies are focused on protein targets inside of cells. GlycoEra is among those zeroing in on so-called extracellular proteins outside of cells or on their membranes. Fellow startups EpiBiologics and Lycia Therapeutics are as well. Sign in to access your portfolio
Business Journals
2 days ago
- Business
- Business Journals
Swiss-Newton biotech lands $130M in tough VC environment
As venture funding becomes concentrated in fewer, larger rounds, a biotech with operations in Newton has secured a significant $130 million Series B financing with Novo Holdings as a lead investor.
Korea Herald
5 days ago
- Business
- Korea Herald
Novonesis Co-Hosts Partnering Day 2025 in Singapore to Advance Biosolutions for a Sustainable Future
SINGAPORE, May 13, 2025 /PRNewswire/ -- Novonesis, a world-leading biosolutions company, co-hosted its "Unlocking Value for a Sustainable Future" Partnering Day 2025 in Singapore on May 7 together with Novo Holdings and Flagship Pioneering. The event focused on reshaping the agriculture and food industries through biosolutions and resource recycling. Leaders from food, agri-business, and waste management explored resource optimisation, while industry executives exchanged insights into scaling innovative biosolutions. Investors identified high-growth opportunities in biosolutions and circular economy models for sustainable business impact. With the global population projected to reach 9.8 billion by 2050, pressure on food systems and sustainability is growing. Biosolutions offer a path forward using microbes, enzymes, and other technologies. The Partnering Day 2025 provided a platform for leaders in business, capital, and innovation to advance circular, bio-based solutions. Showcasing real-world advances including waste valorisation and resource optimisation, the event highlighted how biosolutions are shaping the future of food and agriculture. The event opened with a welcome address by Rasmus Bjørnø, Deputy Head of Mission at the Royal Danish Embassy in Singapore, followed by a keynote speech from Anders Spohr, Managing Partner and Head of Planetary Health at Novo Holdings, outlining the strategic role of biosolutions in reshaping agriculture and food systems. Representatives from three hosting companies shared their insights on what roles that biosolutions and capital play along the way to foster a more sustainable future. Lensey Chen, APAC President of Novonesis, Ignacio Martinez, General Partner of Flagship Pioneering, together with esteemed speakers from industry, NGOs as well as academia explored topics such as resource efficiency, the bioeconomy, and the importance of partnerships in accelerating the bio-revolution. Case studies highlighted how companies are using biosolutions to unlock new value streams and drive sustainable growth. With the planet's resources under growing strain, biosolutions are enabling transformation not just in fields and factories, but across entire value chains. In fields, factories, and homes, they are transforming production by unlocking sustainable protein sources and helping farmers increase efficiency while reducing the use of chemicals, fossil resources, energy, and water. Biosolutions also turn waste into high-value products, enabling economic growth in a sustainable way. Copenhagen Economics Report found that if we made more use of just some biosolutions, we could cut global greenhouse gas emissions by up to 4.3 billion tonnes. That's 8% of total global emissions. For every job created in biotech in general, additional 2 jobs are created across the value chain. Lensey Chen, APAC President of Novonesis, commented: "We know every customer's needs are unique, our portfolio of biosolutions is the market's broadest, and can be used to expand operations through greater flexibility. This is why partnership is key, I am happy to extend an invitation on behalf of Novonesis as a potential partner, we are here to help take our collaboration to a new level of performance by working together with you." Deepa Hingorani, Partner and Head of Planetary Health Asia, Novo Holdings added: "The bioeconomy holds exponential potential, and we see partnerships as essential to unlocking it. We hope today marks the beginning of deeper cross-sector collaboration and a shared commitment to shaping a more sustainable future together." Headquartered in Copenhagen, Novonesis was established in 2024 through the merger of Novozymes and Chr. Hansen—two pioneers in Danish biotechnology. With a portfolio spanning enzymes, microbes, and fermentation-based technologies, the company plays a pivotal role in advancing biosolutions across food, health, agriculture, and sustainability. Partnering Day 2025 reflects Novonesis' ongoing commitment to driving greater impact through innovation, collaboration, and science-based solutions. About Novonesis Novonesis is a global company leading the era of biosolutions. By leveraging the power of microbiology with science, we transform the way the world produces, consumes, and lives. In more than 30 industries, our biosolutions are already creating value for millions of consumers and benefitting the planet. Our 10,000 people worldwide work closely with our partners and customers to transform business with biology. Learn more at About Novo Holdings Novo Holdings is a holding and investment company responsible for managing the assets and 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 Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (formerly 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 Seed, Venture, Growth, Asia, Planetary Health, and Principal Investments teams, Novo Holdings invests in life sciences companies at all stages of development. As of year-end 2024, Novo Holdings had total assets of EUR 142 billion.
CNA
20-05-2025
- Business
- CNA
Indian healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
an India-based startup providing artificial intelligence tools to healthcare firms, is aiming to turn profitable in the next financial year and for an initial public offer (IPO) in two years, its CEO told Reuters. The company, founded in 2016 and largely backed by AI firm Fractal Analytics, counts Peak XV Partners and Novo Nordisk's Novo Holdings among its investors, and has raised $125 million in funding so far, CEO Prashant Warier said. "We look to break even and be profitable next financial year. As we sort of get to that can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO," he said last week. He declined to elaborate on the firm's valuation. The firm was valued at $264 million as of November 2024, according to data from market intelligence platform Tracxn. provides AI solutions in diagnostics for early detection of tuberculosis, lung cancer and stroke risks. Its global clients include AstraZeneca, and Medtronic and Johnson and Johnson MedTech in India. The global market for AI in healthcare, valued at $14.92 billion in 2024, is expected to grow to $110 billion by 2030, according to market estimates. AI is being rapidly adopted by healthcare service providers around the world for early detection of diseases and to streamline work for overburdened professionals, according to industry experts. "We're growing at a rate of 60 per cent-70 per cent every year (in revenue) and I think we probably will accelerate in the next five years," Warier said, adding that they serve around 15 million patients annually. QureAI derives about 25 per cent of revenue from the United States, which is its largest market, and is also eyeing expansion in the market with further partnerships, he said. The company also is focusing on on low-and middle-income countries in Latin America and Africa. India, however, is a much smaller market for the firm, contributing less than 5 per cent of revenue.
Yahoo
20-05-2025
- Business
- Yahoo
Indian healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
By Rishika Sadam (Reuters) - an India-based startup providing artificial intelligence tools to healthcare firms, is aiming to turn profitable in the next financial year and for an initial public offer (IPO) in two years, its CEO told Reuters. The company, founded in 2016 and largely backed by AI firm Fractal Analytics, counts Peak XV Partners and Novo Nordisk's Novo Holdings among its investors, and has raised $125 million in funding so far, CEO Prashant Warier said. "We look to break even and be profitable next financial year. As we sort of get to that can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO," he said last week. He declined to elaborate on the firm's valuation. The firm was valued at $264 million as of November 2024, according to data from market intelligence platform Tracxn. provides AI solutions in diagnostics for early detection of tuberculosis, lung cancer and stroke risks. Its global clients include AstraZeneca, and Medtronic and Johnson and Johnson MedTech in India. The global market for AI in healthcare, valued at $14.92 billion in 2024, is expected to grow to $110 billion by 2030, according to market estimates. AI is being rapidly adopted by healthcare service providers around the world for early detection of diseases and to streamline work for overburdened professionals, according to industry experts. "We're growing at a rate of 60%-70% every year (in revenue) and I think we probably will accelerate in the next five years," Warier said, adding that they serve around 15 million patients annually. QureAI derives about 25% of revenue from the United States, which is its largest market, and is also eyeing expansion in the market with further partnerships, he said. The company also is focusing on on low-and middle-income countries in Latin America and Africa. India, however, is a much smaller market for the firm, contributing less than 5% of revenue.
