MedWatch

Novo Holdings silent on newly created company with million-dollar backing

USD 2.8m (DKK 18m) has been granted to the subsidiary Orbis Medicines, which Novo Holdings founded this week. The holding company doesn't want to comment on anything regarding the new company, however, just as the new director remains silent.

This week, Novo Nordisk fund Novo Holdings founded a new subsidiary named Orbis Medicines, which was at the same time afforded DKK 18m (USD 2.8m), according to registrations in the Danish Central Business Register (CVR). For the time being, however, Novo Nordisk won't comment on the establishment of Orbis Medicines, it tells MedWatch in an email.

It is therefore unclear what exactly the new company will do, but according to its company registration, its purpose is "the research, development and commercialization of medical products, in addition to activities that the board considers to pertain to this."

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