Nordic Biotech Advisors
Copenhagen, DenmarkCopenhagen-based life-science venture capital firm founded in 2001 by Florian Schonharting, focused on company creation and venture investment in biotech and pharmaceutical drug developers across the Nordics; it advises the Nordic Biotech K/S fund family, which holds combined committed capital of more than DKK 800 million, and has backed Forward Pharma, LifeCycle Pharma (later Veloxis) and Curalogic.
Nordic Biotech Advisors is a Copenhagen venture capital firm with €107M AUM, 2 active companies and 4 exits.
- ·Average hold across 4 realized deals: 4 years.
- ·Top sector focus: Biotech (83% of portfolio).
- ·Fund cadence: ~4Y between vintages · last raise 2006.
Sector breakdown
6 companiesGeography breakdown
2 geographiesKey facts
Recent exits
Nordic Biotech Advisors took Forward Pharma public in 2014 after 8 years.
Nordic Biotech Advisors took Curalogic public in 2006 after 2 years.
Nordic Biotech Advisors took LifeCycle Pharma public in 2006 after 4 years.
Nordic Biotech Advisors took Osteologix public in 2006 after 3 years.
Coverage notes
2 funds tracked, 6 portfolio companies (2 active · 4 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Nordic Biotech Advisors has raised, with its portfolio companies. Hand-checked from public filings.
Nordic Biotech II K/SHarvestingLife Sciences VC20061 assetsLife Sciences VC2006 · 20yr–1–
Unrealized
1 held| Company | Entry |
|---|---|
| Arriva Pharmaceuticals Biotech · US | 2008 |
Nordic Biotech K/SHarvestingLife Sciences VC20021 assets4 exitsLife Sciences VC2002 · 24yr–14
Unrealized
1 held| Company | Entry |
|---|---|
| Gastrotech Pharma Biotech · Denmark | 2003 |
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Curalogic Biotech · Denmark | 2004 | 2006 | IPO | – | – |
| Forward Pharma Biotech · Denmark | 2006 | 2014 | IPO | – | – |
| LifeCycle Pharma Pharma · Denmark | 2002 | 2006 | IPO | – | – |
| Osteologix Biotech · Denmark | 2003 | 2006 | IPO | – | – |
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.
Frequently asked questions
- What investment strategy does Nordic Biotech Advisors focus on?
- Nordic Biotech Advisors focuses on VC strategies in the private equity space.
- How many portfolio companies does Nordic Biotech Advisors have?
- Nordic Biotech Advisors has 2 active portfolio companies and 4 completed exits and 2 funds tracked on GP Intel.
- Where is Nordic Biotech Advisors headquartered?
- Nordic Biotech Advisors is headquartered in Copenhagen, Denmark.
- What is Nordic Biotech Advisors's assets under management?
- Nordic Biotech Advisors manages approximately €107M in assets under management.
- When was Nordic Biotech Advisors founded?
- Nordic Biotech Advisors was founded in 2001.
- What sectors does Nordic Biotech Advisors invest in?
- Nordic Biotech Advisors invests across Healthcare.
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