On Nov. 19, 2019, Novo Ventures and the Broad Institute of MIT and Harvard announced the launch of the Novo Broad Greenhouse a joint initiative to discover and propel transformative new therapies from academic science into the clinic, and to drive the development of the next generation of molecular medicines.

To drive the development of the next generation of molecular medicines, the Novo Broad Greenhouse unites three core ingredients: deep basic science expertise from academia, world class drug-discovery capabilities from the Broad Institute’s Center for the Development of Therapeutics (CDoT), and a sustainable funding base and therapeutics development expertise from Novo Holdings.

The Novo Broad Greenhouse seeks to accelerate drug discovery projects led by faculty that are part of the Broad Institute community, including MIT, Harvard, and Harvard-affiliated hospitals.

Novo Holdings, through its US subsidiary, has committed up to $25 million over a five-year period to fund seed-stage drug discovery projects at Broad, spanning a wide range of indications and therapeutic modalities. Seed projects may include efforts to validate new drug targets, to assess how “druggable” certain proteins or genes are, or to develop new assays to assess the potential of drug candidates.

The Novo Broad Greenhouse is one of several early-stage initiatives within Novo Holdings and exemplifies Novo Holdings’ interest to fund breakthrough science into new medicines. Novo Ventures is one of several investment teams employed by Novo affiliates that supports the investment activities of Novo Holdings, one of the world’s largest life science focused investment companies. Novo Ventures aims to facilitate the investment of approximately $500 million annually in private and public life science opportunities in the US, Europe, and Asia.  Given Novo Holdings’ evergreen funding structure, multiple investment strategies and global reach, Novo Holdings is uniquely positioned to invest in and support life science companies from inception through commercialization.