Denmark-based pharmaceutical firm Novo plans to open an office in Singapore in August this year in order to oversee investments in Asia, it announced yesterday.
Although Novo Holdings, the holding company for the Novo Group, is an active investor in Europe and the United States, it has yet to participate in Asian deals, and the move is intended to support deals in Singapore, China, Japan and Southeast Asia.
The office will support corporate venturing subsidiary Novo Ventures, growth-stage unit Novo Growth and Novo Principal Investments, which provides larger sums for established life sciences companies. It will be headed by Amit Kakar as Novo Holdings’ head of Asia.
Kakar said: “I am very pleased to be joining Novo Holdings, which has an impressive track record and a long-term approach to investing.
“The prospect of bringing better healthcare through our investments is a big motivation for me, and I look forward to working with the rest of the senior management team to shape and lead the implementation of an ambitious life sciences investment strategy for Asia.”
