BioCentury on BioBusiness,
Novo A/S using strong cash flow to invest in mature companies like Xellia
Seeds to trees
Monday, June 3, 2013
Flush with cash from its existing holdings and not seeing
enough worthwhile venture deals to spend it on, Novo
A/S has decided to expand its growth equity investments in mature
companies. After a proof-of-principle deal done last year showed the approach
could provide strong growth, the Danish holding company struck a second deal
last month with the acquisition of generics company Xellia
Xellia develops and manufactures
APIs and finished dosage forms of antibacterials and antifungals. Novo agreed
to acquire the company from private equity firm 3i Group for about $700
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