ARTICLE | Finance

Ebb & Flow

March 8, 2010 8:00 AM UTC

Novo Growth Equity, which was created last year, has made its first investment by putting £40 million into a £65 million ($98.4 million) round by Archimedes Pharma Ltd. on the condition that the specialty pharma play build a U.S. presence.

"Archimedes fits into our strategy of investing in companies that have late-stage de-risked assets. We asked whether the world needed another fentanyl product and we concluded that Archimedes' product is differentiated enough," Novo's Ulrik Spork told Ebb & Flow...