Between 2016 and 2022, Novo Holdings’ parent company, the Novo Nordisk Foundation, has invested $4.5bn in grants for research, innovation, treatment, education, humanitarian and social purposes. Image credit: Caroline Ruda via Shutterstock.

Danish asset manager Novo Holdings, which is owned by Novo Nordisk Foundation (NNF), the majority voting shareholder of pharmaceuticals giant Novo Nordisk, is investing in Biocomposites alongside existing shareholder TA Associates.

The deal, the terms of which have not been disclosed, will give Novo Holdings and TA Associates, shared control of the UK-based manufacturer of products for infection management in bone and soft tissue.

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Biocomposites’ CEO Michael Harris commented: “TA has been a fantastic long-term partner to us, and we are excited for the future alongside them and Novo Holdings.”

Biocomposites said it plans to use the cash injection to deepen its existing global footprint and further scale its product pipeline. Since private equity firm TA became the company’s chief investor, Biocomposites has experienced a tripling of revenues and continued to diversify its product range and expand into new global markets.

Harris continued: “With the combined expertise and support of these two leading global healthcare investors, we believe we are well positioned to deliver on our commitment to bring ever more innovative products for use in infection management to more people worldwide.”

Henrik Kjær Hansen, senior partner at Novo Holdings, commented: “Biocomposites’ innovative solutions in infection management align perfectly with our broader portfolio of life sciences investments, and we firmly believe in the company’s tremendous growth potential.

“With our deep expertise in life sciences and extensive global network, we look forward to supporting Biocomposites in expanding its international footprint, driving innovation, and advancing its ability to deliver highly effective and targeted infection management solutions that improve patient outcomes worldwide.”

On the same day, Novo Holdings also announced an investment in Callio Therapeutics $187m Series A launch financing round. The biotech is focused on the development of multi-payload antibody-drug conjugates (ADCs) to improve cancer therapy.

In 2024, NNF invested around €1.35bn ($1.41bn), including in healthcare initiatives related to regenerative medicine and cardiometabolic diseases.