Seeds to trees

Novo A/S using strong cash flow to invest in mature companies like Xellia

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 Pharmaceuticals A/S.

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 million.

Ulrik Spork, managing partner of Novo Growth Equity fund, said

Read the full 1013 word article

User Sign In

Article Purchase

This article may not be distributed to non-subscribers

PURCHASE THIS ARTICLE FOR LIMITED ONE-TIME DISTRIBUTION AND WEBSITE POSTING $995.00 USD

PURCHASE