Novo Holdings, the controlling shareholder in Denmark’s Novo Nordisk, announced its participation in the founding of the newly formed European Life Sciences Coalition (ELSC), an industry alliance launched February 12, 2026, to strengthen regional biotech financing and competitiveness.
The coalition, created in partnership with Invest Europe, brings together venture capital firms, research institutions, and sector stakeholders including Sofinnova Partners, Forbion, Omega Funds, and the Flanders Institute for Biotechnology (VIB). Members collectively manage more than EUR 24 billion in assets and have supported over 1,400 companies.
The initiative was formed amid growing concern that Europe underperforms relative to other major biotech markets despite strong scientific output. Data cited by the coalition show European life sciences venture funds represent just 7% of global capital, compared with 63% for the US and 14% for China. Over the past six years, 66 of 67 EU-based biotech companies that completed IPOs chose to list outside the bloc, highlighting persistent challenges in scaling companies domestically.
Industry observers have increasingly warned of “innovation flight,” in which European discoveries are financed, developed, and commercialized abroad, shifting economic value and high-skill jobs to other regions.