novo ventures
Transcription
novo ventures
NOVO VENTURES Novo Seeds Novo Ventures Large Investments Novo Finance NOVO A/S Novo A/S is a privately held company that is fully owned by the Novo Nordisk Foundation and is responsible for managing the Foundation’s assets. As the holding company of the Novo Group, Novo is a major shareholder in the publicly listed companies Novo Nordisk A/S and Novozymes A/S. NOVO VENTURES Novo Ventures is part of Novo A/S, which is the holding company of the Novo Group, and is wholly owned by the Novo Nordisk Foundation. Novo Ventures’ investment activity is structured as an open evergreen fund within Novo A/S and with the Novo Nordisk Foundation as the sole investor. This unique structure allows Novo Ventures to maintain a long-term perspective without many of the restrictions that encumber traditional venture capital funds. Novo Ventures invests for financial rather than strategic returns. NOVO VENTURES A UNIQUE APPROACH TO VENTURE INVESTMENTS SUCCESSFUL TRACK RECORD Novo’s venture activities have produced a successful track record and established Novo Ventures as one of the most active life science venture capital investors in the world. Since 2000, we have invested over USD 800 million in 87 companies and successfully exited 28 companies through trade sales and IPOs. Our exits have produced positive financial results and they have brought revolutionising products and technologies to market, improving the lives of thousands of people around the world. INVESTING UP TO USD 200 MILLION ANNUALLY Our venture capital goes to both private and public life science companies whose products or research address real medical, scientific or environmental needs. As business investors, we also look for profit and growth potential. We focus specifically on companies that specialise in the development of new drugs, new procedures for the diagnosis and control of diseases, the development of medical devices and instruments and industrial biotechnology. We may invest at any stage of development including seed capital, venture capital, IPOs and established public companies. AN INTERNATIONAL PLATFORM With activities in Copenhagen, San Francisco and London and an international network of commercial and scientific specialists we are geared to reach the major hubs of life science. As a small team with short decision lines, we are quick to respond to investment opportunities when they arise. Our team also provides qualified on-site support to our portfolio companies by leveraging experiences gained from our broad-based life science portfolio. NOVO VENTURES 2013 ACCUMULATED NUMBER OF PORTFOLIO COMPANIES ( AS OF 31.12.12 ) 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Active Exits: IPOs, Trade sales and liquidations 0 10 20 30 40 50 60 70 80 90 ACCUMULATED COST OF INVESTMENTS – DKK MILLIONS ( AS OF 31.12.12 ) 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Venture funds Direct investments 0 500 1.000 1.500 2.000 2.500 3.000 3.500 4.000 4.500 55 45 45 35 35 25 25 15 15 5 5 -5 -5 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 55 Euro active portfolio Euro exits and IPOs 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 0 20 7 08 20 09 20 10 20 11 20 12 DEVELOPMENT OF NOVO VENTURES’ INVESTMENTS – BY NUMBER OF PORTFOLIO COMPANIES ( AS OF 31.12.12 ) North America active portfolio North America exits and IPOs 5.000 NOVO VENTURES Significant value can be created through close collaboration between skilled life science investors and dedicated entrepreneurs – Søren Carlsen, Managing Partner, Novo Ventures Active portfolio companies in 2013 include 24 in North America and 12 in Europe Novo Ventures represented THE VENTURE TEAM DEDICATED PROFESSIONALS With activities in Copenhagen, San Francisco and London, Novo Ventures is positioned to reach the major global hubs of life science. Our team provides qualified on-site support to our portfolio companies by leveraging experiences gained from our broad-based life science portfolio. Our team has wide-ranging expertise from the pharmaceutical industry, biotech, banking and venture investing. COPENHAGEN Søren Carlsen Managing Partner Søren is the Managing Partner in Novo Ventures and established the team in 2000. Prior to starting Novo Ventures, Søren was in the Novo Group for over 20 years. He was the Corporate VP and Chief Scientific Officer of Novo Nordisk’s Enzyme Business, known today as Novozymes A/S. He was the international head of Research, Development, Pilot Plant and IP activities in Denmark, USA and Japan. Søren also established Novozymes Biotech Inc. in Davis, California. Søren is the Managing Partner of Novo Seeds, which he established in 2007. Novo Seeds invests in early stage life science research companies in the Nordic countries. Søren is a cofounder of the Danish Biotech Association. Thomas Dyrberg Senior Partner Thomas has been a Partner in Novo Ventures since 2000. Prior to joining Novo Ventures, Thomas was in the Novo Group for over 20 years, having joined Novo Nordisk A/S in 1990 working in Health Care Discovery on various aspects of diabetes immunology and pathogenesis, and from 1996 in Health Care Clinical Drug Development. Thomas held research positions at the Hagedorn Research Institute, Denmark, and at the Scripps Research Institute, La Jolla, California. Thomas obtained an MD degree from the University of Copenhagen in 1981 and a DMSc degree, also from the University of Copenhagen in 1986. Kim Dueholm Partner Kim has been a Partner in Novo Ventures since 2000. Prior to joining Novo Ventures, Kim spent five years with Novo Nordisk A/S in positions ranging from Patent Portfolio Analyst to Principal Scientific Analyst. His international experience includes research and venture fund experience in San Francisco, California and research experience in Osaka, Japan. Kim is an intellectual property expert and holds a PhD in organic chemistry from the University of Copenhagen and an MSc in chemistry/ business administration from Odense University. Jack Bech Nielsen Partner Jack joined Novo Ventures in 2001. From 2006-2012, he was a Partner in Novo Ventures (US) Inc. in San Francisco, California. Prior to joining Novo Ventures, Jack was with the Novo group for over 10 years, holding various positions in the Novo Nordisk business area which is known today as Novozymes A/S. Jack holds an MSc and an MMT, Master in Management of Technology from the Technical University of Denmark, DTU. NOVO VENTURES Heather Ludvigsen Venture Auditor Heather joined Novo Ventures in 2003. She is responsible for controlling the venture investments from a financial and administrative perspective. Prior to joining Novo Ventures, Heather was with Brown Brothers Harriman & Co., as head of the European Internal Audit function based in Luxembourg and as the Investment Management Business Line Controller based in New York. Prior to this, Heather was an Audit Manager and a CPA with PricewaterhouseCoopers in both Luxembourg and Boston, Massachusetts. Heather holds a BS in Accounting and a BA in Business Administration from the University of Kansas. Lone Penby Venture Coordinator Lone joined Novo Ventures in 2009. She is responsible for the coordination of the overall venture activities, including the Novo BioSummit. Prior to joining Novo Ventures, Lone was the Coordinator in Novo Seeds from when it was established in 2007 to 2009. Lone was educated in the banking sector, and has more than 25 years of experience in various administrative positions in the Novo Group, including responsibility for managing projects and budgets as well as the coordination of international meetings. LONDON Martin Edwards Senior Partner Martin joined Novo Ventures in 2003. Prior to joining Novo Ventures, Martin was the CEO of ReNeuron Holdings, taking the company public in 2000. Previously, Martin was with the Novo group for 15 years as Corporate VP and Head of Drug Development for Novo Nordisk A/S, VP of Pharmacology and Medical Affairs at ZymoGenetics Inc. in Seattle, Washington and as Senior VP for Medical Affairs at Novo Nordisk in Princeton, New Jersey. Martin holds UK degrees in Physiology, Medicine and Business. THE VENTURE TEAM SAN FRANSISCO Scott A. Beardsley Partner Scott joined Novo Ventures (US) Inc. in San Francisco, California in 2012. From 20092012, Scott was a member of Novo A/S’ Growth Equity team. Prior to joining Novo A/S he was a Managing Director at JP Morgan in San Francisco, heading JPM’s West Coast biopharmaceuticals effort. Previously, Scott led Piper Jaffray’s US biopharmaceuticals investment banking practice and was a member of the Health Care Group at Montgomery Securities. During his tenure as an investment banker, Scott originated and executed numerous transactions. Scott holds an MBA from UCLA’s Anderson Graduate School of Management and a BS from Colorado State University. Peter Bisgaard Partner Peter joined Novo Ventures in 2001 and has been with Novo Ventures (US) Inc. in San Francisco, California since 2009. Prior to joining Novo Ventures, Peter was with McKinsey & Co. as a general consultant and as a specialist within the Scandinavian Corporate Finance and Strategy Group. Peter obtained an MSc in Engineering in 1998 from the Technical University of Denmark and was awarded a post graduate degree in Mathematical Modelling in Economics by the European Consortium for Mathematics in the Industry. Heath Lukatch Partner Heath joined Novo Ventures (US) Inc. in San Francisco, California in 2006. Prior to this, Heath was a Managing Director for Piper Jaffray Ventures and SightLine Partners, and a bench scientist at Cetus, Chiron and Roche Bioscience. Previously, he was at McKinsey & Co. focused on strategy consulting for biopharmaceutical companies. Heath also brings entrepreneurial experience from his role as founder and CEO of AutoMate Scientific Inc. a biotechnology instrumentation company. Heath holds a PhD in neuroscience from Stanford University and a BA in biochemistry from the University of California at Berkley. Peter Moldt Partner Peter joined Novo A/S in 2009 and has been with Novo Ventures (US) Inc. in San Francisco, California since 2012. Prior to joining Novo Ventures, Peter founded Curalogic A/S in 2004, took the company public in 2006 and served as CEO until 2009. He previously was the Chief Operating Officer at 7TM Pharma, which he also co-founded. He also worked for NeuroSearch, where he was responsible for drug development. Peter holds a PhD in medicinal chemistry from the Royal Danish School of Pharmacy and was a post doc in the laboratory of Stuart L. Schreiber at Yale University’s department of organic chemistry. Tiba Aynechi Principal Tiba joined Novo Ventures (US) Inc. in San Francisco, California in 2010. Prior to this, Tiba was a Director with Burrill & Company where she completed regional and cross-border M&A, licensing, and financing transactions for biotech and large pharmaceutical companies. Tiba received her PhD from the Graduate Group in Biophysics at the University of California, San Francisco where her research involved developing computational methods for drug discovery. She has an undergraduate degree in physics from the University of California, Irvine. Cory Freedland Principal Cory joined Novo Ventures (US) Inc., in San Francisco, California in 2013. Prior to this, Cory was a Vice President in Morgan Stanley’s healthcare investment banking practice where he executed strategic and financing transactions for biopharmaceutical and medical technology companies. Cory also spent five years with Roche Palo Alto focused on novel target discovery for central nervous system diseases. Cory received a PhD in Pharmacology from Wake Forest University School of Medicine, an MBA from the Kellogg School of Management and a BA from Connecticut College. Nicole Zilveti Office Manager Nicole joined Novo Ventures (US) Inc. in San Francisco, California in 2007. She is responsible for managing the operations and administration of the San Francisco office of Novo Ventures (US) Inc. and coordinating the overall venture activities including all meetings and conferences held in San Francisco. Prior to joining Novo Ventures (US) Inc., Nicole held various positions in event planning. Nicole holds a Bachelor of Science degree in Business Administration with an emphasis on Consumer Marketing. Novo Ventures (US) Inc. is a separate legal entity that provides certain consultancy services to Novo A/S, mainly within the areas of identifying, analysing and negotiating various investment opportunities among life science and biotech companies in the US as well as certain follow-up activities related thereto, such as board memberships, financial control and reporting efforts. ACTIVE PORTFOLIO COMPANIES PRIVATE COMPANIES TM Acacia Pharma is focused on the development of a repurposed molecule for the prevention and treatment of nausea and vomiting following surgery and chemotherapy. Its lead programme is in phase 3 clinical development. The company is located in Harston, Cambridge, UK. Apollo Endosurgery is a medical device company dedicated to flexible surgery and has launched OverStitchTM, an endoscopic suturing device. The company is located in Austin, TX, USA. Akebia Therapeutics develops inhibitors of prolyl-hydroxylases for the treatment of anemia in patients with chronic kidney disease. Its lead compound is in phase 2 clinical development for the treatment of chronic anemia. The company is located in Cincinnati, OH, USA. Asante Solutions has developed an easy-to-use, disposable insulin pump that is both affordable and reliable. The pump is 510(k) approved in the US and CE marked in Europe. The company is in launch phase. The company is located in Sunnyvale, CA, USA. Alder Biopharmaceuticals develops novel antibody therapeutics to treat various diseases. Its lead programme is in phase 2 clinical development for the treatment of rheumatoid arthritis and other inflammatory diseases and is partnered with Bristol-Myers Squibb. The company is located in South Bothell, WA, USA. Cardeas Pharma Inc. develops a treatment for pneumonia in patients in intensive care units. Its lead product is in phase 2 clinical development. The company is located in Seattle, WA, USA. Alios BioPharma develops novel treatments against viral diseases. Its lead programme is in phase 2 clinical development targeting HCV polymerase and is partnered with Vertex. The company is located in South San Francisco, CA, USA. Ceterix Orthopaedics develops novel surgical tools for arthroscopic procedures. This technology has applications in numerous arthroscopic procedures in knees, hips and shoulders. The company is located in Menlo Park, CA, USA. Allakos develops monoclonal antibody-based therapies to target eosinophils and mast cells. Its lead programme is in pre-clinical development. The company is located in San Carlos, CA, USA. Cianna Medical is a medical device company that manufactures and markets the SAVI breast brachytherapy applicator, for the delivery of radiation after lumpectomy surgery. The company is located in Aliso Viejo, CA, USA. AlloCure develops adult stem cell therapies. The lead programme is in phase 2 clinical development in acute renal failure. The company is located in Burlington, MA and Salt Lake City, UT, USA. Delenex Therapeutics develops therapeutic antibody fragments being designed for local/topical use. The company is located in Zürich, Switzerland. AnaptysBio is an antibody therapeutics company and emerging leader in antibody discovery and optimisation. The company is located in San Diego, CA, USA. Epsilon-3 Bio develops compounds targeting the removal of cellular debris in chronic inflammatory and autoimmune disorders. The lead compound is in pre-clinical development. The company is located in Duxford, Cambridgeshire, UK. ACTIVE PORTFOLIO COMPANIES PRIVATE COMPANIES Flexion Therapeutics discovers and develops a pipeline of sustained release drugs for intra-articular injection to treat osteoarthritis. Its lead programmes are in phase 2 clinical development. The company is located in Woburn, MA, USA. ObsEva is dedicated to the development of innovative drugs for women’s reproductive medicine. Its lead project is in phase 2 clinical development for the treatment of preterm labour. The company is located in Geneva, Switzerland. HTG Molecular Diagnostics develops and sells assays for quantification of gene expression. The assays are used for clinical diagnostics and in research. The company is located in Tucson, AZ, USA. Ophthotech is focused on developing improved therapies for wet age-related macular degeneration. Its lead compound is in phase 3 clinical development. The company is located in Princeton, NJ, USA. Inogen is developing, manufacturing and marketing lightweight, portable oxygen therapy devices to improve quality of life and increase mobility for patients with chronic obstructive pulmonary disease. The company is located in Goleta, California, USA. Orphazyme develops novel therapeutics for the treatment of lysosomal storage diseases. Its lead programme is in pre-clinical development. The company is located in Copenhagen, Denmark. KalVista Pharmaceuticals develops plasma kallikrein inhibitors for the treatment of diabetic macular oedema. Its lead programme is in pre-clinical development. The company is located in Porton Down, Wiltshire, UK. Otonomy develops novel drug therapies for disorders of the inner and middle ear. Its lead candidate is ready to enter phase 2 clinical development for the treatment of Ménière’s disease. The company is located in San Diego, CA, USA. Karus Therapeutics develops innovative therapies for the treatment of inflammation and cancer. Its lead programmes are in pre-clinical development and focus on histone deacetylase and phosphoinositide 3-kinase inhibitors. The company is located in Abingdon, Oxfordshire, UK. ProteinSimple develops instrumentation systems, software and assay products targeting protein research, biomarker discovery and personalised medicine. The company is located in Santa Clara, CA, USA. NeRRe Therapeutics is based on clinical stage NK1 receptor antagonists. Its lead project will enter phase 2 clinical development in 2013 for the treatment of an undisclosed orphan disease. The company is located in Stevenage, Hertfordshire, UK. Reata Pharmaceuticals develops new drugs for the treatment of inflammatory diseases and oncology. The company is located in Irving, TX, USA. Nevro is a medical device company developing an implantable spinal cord stimulator for the treatment of chronic leg and back pain. Nevro’s device, Senza®, is launched in the EU and Australia. The company is located in Menlo Park, CA, USA. Santaris Pharma is in clinical development of RNA antagonist drugs against metabolic disorders and viral disease. Its lead programme is in phase 2 clinical development for the treatment of hepatitis C. The company is located in Hoersholm, Denmark. T BIRA T H E R A P E U T I C S PRIVATE COMPANIES PUBLIC COMPANIES Tarsa Therapeutics develops an oral calcitonin for the treatment of osteoporosis and has announced positive phase 3 data. The company is located in Philadelphia, PA, USA. Biotie Therapies is focused on the development of drugs for neurodegenerative and psychiatric disorders. The company is located in Turku, Finland. Thesan Pharmaceuticals develops novel treatments of dermatological disorders. Its lead project is in pre-clinical development. The company is located in San Clemente, CA, USA. PTC Therapeutics discovers and develops small molecule drugs that modulate gene expression. Its lead programmes are in phase 3 clinical development for the treatment of Duchenne muscular dystrophy and cystic fibrosis. The company is located in South Plainfield, NJ, USA. Tobira Therapeutics develops products for the treatment of HIV and immune diseases. The lead compound, a CCR5 antagonist for the treatment of HIV infection, is in phase 2b clinical development. The company is located in South San Francisco, CA, USA. Veloxis Pharmaceuticals has a new and improved once-daily tacrolimus product in the regulatory stage. The company is located in Hoersholm, Denmark and Edison, NJ, USA. Vantia Therapeutics develops small molecule agonists of vasopressin receptors. Its lead asset is in phase 2 clinical development for the treatment of nocturia. The company is located in Southampton, Hampshire, UK. Xenon Pharmaceuticals is a genetics based drug development company. Its lead compound is in clinical development for the treatment of pain. The company is located in Burnaby, BC, Canada. For further information on the portfolio: SELECTED EXITS ActivX Biosciences was acquired by Kyorin Pharmaceutical in 2004. InSound Medical was acquired by Sonova Holding in 2010. Amira Pharmaceuticals was acquired by Bristol-Myers Squibb in 2011. NeoMend was acquired by C. R. Bard in 2012. Arakis was acquired by Sosei Co. in 2005. Neurodan was acquired by Otto Bock in 2005. Arpida went public in 2007. Novexel was acquired by AstraZeneca in 2010. BioMimetic was acquired by Wright Medical Group in 2012. Panacos Pharmaceuticals went public in 2007. Cabrellis Pharmaceuticals was acquired by Pharmion in 2006. Protein Forest was acquired by ProteinSimple in 2009. Combio was acquired by Arpida in 2004. Salmedix was acquired by Cephalon in 2005. Conforma Therapeutics was acquired by Biogen Idec in 2006. Sapphire Therapeutics was acquired by Helsinn Healthcare in 2009. COMBIO Sapphire Therapeutics, Inc. 1031 US Highway 22, Suite 303 Bridgewater, NJ 08807 908-203-xxxx office 908-231-1459 fax sa p p h i r e t h e r a . c o m Sapphire logo, monochrome gradient (PMS 072U / 2935U?) Corus Pharma was acquired by Gilead Sciences in 2006. Sosei Co. acquired Arakis in 2005. Elevation Pharmaceuticals was acquired by Sunovion Pharmaceuticals in 2012. Synosia Therapeutics was acquired by Biotie Therapies in 2011. FoldRx Pharmaceuticals was acquired by Pfizer in 2010. Thiakis was acquired by Wyeth Pharmaceuticals in 2008. Funxional Therapeutics sold its lead asset to Boehringer Ingelheim in 2012 and a distribution was made to shareholders. ZymoGenetics was acquired by Bristol-Myers Squibb in 2010. Gloucester Pharmaceuticals was acquired by Celgene in 2010. Sapphire Therapeutics, Inc. 1031 US Highway 22, Suite 303 Bridgewater, NJ 08807 908-203-xxxx office 908-231-1459 fax sa p p h i r e t h e r a . c o m Sapphire logo, monochrome solid (PMS 072U / 2935U?) Sapphire Therapeutics, Inc. 1031 US Highway 22, Suite 303 Bridgewater, NJ 08807 908-203-xxxx office 908-231-1459 fax sa p p h i r e t h e r a . c o m Sapphire logo, B&W grayscale (PMS 072U / 2935U?) Sapphire Therapeutics, Inc. 1031 US Highway 22, Suite 303 Bridgewater, NJ 08807 908-203-xxxx office 908-231-1459 fax sa p p h i r e t h e r a . c o m Sapphire logo, B&W solid (PMS 072U / 2935U?) – Søren Carlsen, Managing Partner, Novo Ventures. Novo A/S Tuborg Havnevej 19 DK-2900 Hellerup Tel. +45 3527 6500 www.novo.dk Visiting address in the USA: Novo Ventures (US) Inc. 1700 Owens Street, Suite 540 San Francisco CA 94158, USA Tel. +1 (415) 552 6686 September 2013 visualization.dk Investing in life science for the future