Novo Nordisk Foundation to shift focus to stem-cell therapies
The Novo Nordisk Foundation, the philanthropic fund behind the maker of blockbuster drugs Ozempic and Wegovy, will give more donations to stem-cell based therapies as part of a shift in its focus areas.
The fund, which has total assets of more than USD 80bn at a group level, will make regenerative medicine an “explicit part” of its strategy, according to a statement on Tuesday. The foundation reached USD 1.1bn in grants last year.
“It’s not often that you see other foundations give grants in this area, because it’s pricey, it’s long term, and it’s risky,” Mads Krogsgaard Thomsen, the CEO of the foundation, said in the statement. “We’re the ones that can take risky, long-term bets if they might cure disease.”
The foundation owns Novo Holdings, which in turn holds a controlling stake in pharmaceutical giant Novo Nordisk A/S as well as other companies in the life-science industry. The foundation’s assets have swelled due to the success of the drugmaker, which is struggling to meet booming demand for its diabetes and weight-loss treatments.
