Novo Fund to Donate Record $860 Million in New Bioscience Grant

The fund controlling Novo Nordisk A/S will make the largest donation in its history with a grant worth as much as 5.5 billion kroner ($860 million) for a Danish life science organization to help boost European innovation and jobs.

The Novo Nordisk Foundation will give the funds to the Copenhagen-based BioInnovation Institute, which will expand into new strategic areas and European geographies in its support of startup companies, according to a statement on Thursday.