Nordic Biotech Advisors

About Nordic Biotech Advisors

Nordic Biotech Advisors ApS, doing business as NB Capital ApS, is an independent Danish biotechnology and life-sciences investment firm headquartered in Copenhagen. The firm was founded in 2001 by Florian Schönharting, who serves as Group CEO and Chief Investment Officer alongside a small founding group of biotech investment specialists. Schönharting brings over 22 years of public and private equity investment experience in biotech and pharmaceuticals and has co-founded multiple successful biopharmaceutical companies including Genmab A/S, Veloxis Pharmaceuticals (formerly Life Cycle Pharma), Zealand Pharma A/S and ACADIA Pharmaceuticals. The firm operates a closed-end limited partnership fund structure using Danish K/S vehicles, advising Nordic Biotech K/S (2002 vintage), Nordic Biotech II K/S, and Nordic Biotech Opportunity Fund (2008 vintage), with the earlier funds carrying combined committed capital exceeding DKK 800 million. As of December 2024, total discretionary capital under NB Capital management approximates USD 1 billion across active vehicles, equivalent to roughly €920 million. The limited partner base is institutional and global, including sovereign wealth funds, family offices and Nordic strategic partners.

Investment thesis

NB Capital pursues a highly concentrated conviction-driven life-sciences investment strategy targeting underexploited opportunities in biopharmaceuticals across all development phases, from pre-clinical seed funding through commercial-stage growth equity. The firm explicitly seeks low-risk investments with two-to-three-year value-realisation horizons, favouring documented clinical and commercial value-add over leveraged exposure to broad biotech market beta. Sector focus is exclusively life sciences covering biotechnology, pharmaceuticals, drug development and medical technology, with particular emphasis on immunology, neuroscience, oncology and rare-disease therapeutics. Geographic scope is principally Nordic across Denmark, Faroe Islands, Finland, Iceland, Norway and Sweden, with selective allocation to North American and European biotechs. Ticket sizes are not publicly disclosed but historical deployments span seed-stage commitments of single-digit USD millions to growth-stage commitments exceeding USD 50 million per company. The limited partner base is globally distributed. Value creation is delivered through deep scientific due diligence, active board governance and company-building expertise.

Recent activity

Recent investments and ongoing positions include Forward Pharma A/S in biotech and immunology (Nasdaq-listed), Veloxis Pharmaceuticals in pharma and transplantation (prior co-founder position), Curalogic A/S in biotech and Osteologix Inc. in biotech and bone disease. Notable historical exits include Nuevolution in biotech (2018), Genmab A/S in biotech and oncology (co-founder position, public market realisation) and Acadia Pharmaceuticals in biotech and CNS (co-founder position, public market realisation). The firm operates a long-hold low-turnover concentrated portfolio, with most realisations occurring as public-market secondary sales of listed positions rather than discrete trade-sale events. Detailed buyer names and multiple data available on Pro at €49/month.