LUNDBECKFONDEN - SUSTIANABILITY REPORT 2021
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PIONEERING INNOVATION WITHIN HEALTHCARE The Lundbeck Foundation invests in people, businesses and science at the frontiers of their fields, with the aspiration of pushing the boundaries of the current level of insights and knowledge, and identifying the health solutions of
The contribution to healthcare innovation, through both its long-term ownerships and investment in early-stage biotech, is a key component of the Foundation’s impact on society, with a clear link to SDG 9 and sub-target 9.5.
tomorrow.
INNOVATION AS A CORNERSTONE OF THE ENGAGED OWNERSHIP MODEL
of expanding the Foundation’s ownership portfolio from
in major financing rounds. Portfolio company IO Biotech
three, to between five and eight companies in 2030.
raised approximately DKK 1.7bn in total from a Series B round (EUR 127m) and an IPO on Nasdaq (USD 115m). The proceeds
As the engaged and long-term owner of three healthcare companies, the focus on healthcare innovation, and R&D is a
RISK-WILLING CAPITAL FOR NEW BIOTECH
will fund clinical trials for its early- and late-stage immuno-
core part of the Foundation’s ownership model, guiding the
The journey from scientific discovery to healthcare innovation
oncology programmes.
subsidiaries towards continuous innovation, and research into
and new treatments is long and challenging, and requires
new medicines, treatments and healthcare solutions.
considerable risk-willing capital. In its role as a venture capital
In addition to ensuring the financial needs of the portfolio,
and seed investor, the Foundation drives healthcare
both Ventures and Emerge portfolio companies saw
For the two pharmaceutical companies in the portfolio –
innovation focusing on the biotech industry and on the
significant progress in R&D, taking new steps to bringing
Lundbeck and ALK - this is directly evident from the high
development of new innovative medicines and treatments in
their discoveries closer to patients. This included the filing of a
R&D spend. For Falck, delivering breakthroughs in the
areas of unmet patient need.
new drug (Spero Therapeutics), and the initiation of new clinical trials (VarmX and NMD Pharma).
healthcare service market has been defined as a key commitment in its 2025 strategy, launched in 2021.
Total R&D spend 2021 (DKKm)
3,823 631
R&D spend as % of revenue 2021
23% 16%
This focus is also reflected in the Foundation’s new strategy, which has initiated the external screening of the market in pursuit of new ownership targets in healthcare, with the goal
The Foundation’s international venture capital organisation, Lundbeckfonden Ventures, includes a portfolio of 14
From 2022, the Foundation has decided to merge Ventures
companies, of which, several are focused on specialty pharma
and Emerge with the ambition to invest even more in Danish-
segments, which is often overlooked by big pharmaceutical
based biotech, and to contribute to strengthening Denmark’s
companies. In 2021, the Foundation supported and
life science ecosystem as a whole.
participated in raising follow-on financing for several of its portfolio companies. In total, more than DKK 2bn was raised
BRIDGING THE GAP FROM SCIENCE TO BUSINESS
to support the further development of new treatments.
In 2021, the Foundation decided to institute a new grants
DKK > 4bn raised
by Lundbeckfonden Ventures and Lundbeckfonden Emerge portfolio companies in follow-on financing to advance new drug development The Lundbeck Foundation’s early investment unit based on Danish research, Lundbeckfonden Emerge, also participated
category: Frontier grants. This targets scientific research talents with research ideas that have commercial potential, but who might need support to mature their ideas to a stage where they can become relevant for commercial investors. The grant serves a dual purpose of developing the concrete research idea while also mentoring research talents to increase their ability to navigate in a commercial space, both now, and in potential future endeavours.
