Novo Holdings is a Danish private limited liability company wholly owned by the Novo Nordisk Foundation. Established in 1999, Novo Holdings is the holding company of the Novo Group and manages the Foundation's investment assets. In addition to being the major shareholder in the Novo Group companies, Novo Holdings invests the wealth of the Foundation in two key categories: 1. Life Science Investments, which includes investing in life science companies at all stages of development; and 2. Financial Investments, which manages a diversified portfolio of equity and fixed income securities. Working out of Copenhagen, with affiliates in San Francisco and Boston, Novo Holdings is a world-leading life science investor with a focus on creating long-term value. The purpose of the investments of Novo Holdings is both to grow the assets of the Foundation and to deliver a return that the Foundation can distribute for scientific, social and humanitarian purposes to improve the lives of people and the sustainability of society.