Novartis Pharma AG is the pharmaceutical subsidiary of Novartis AG that makes strategic corporate venture investments in life science companies. It invests through vehicles including the Novartis Venture Fund (NVF) and dRx Capital, managing approximately USD 750 million in committed capital across over 40 portfolio companies in biotechnology and biopharmaceuticals.
60% of their portfolio is in Biotech & Life Sciences. Average disclosed round size is $65.6M (across 38 rounds with reported amounts).
Portfolio
38
Fund Size
—
Top Stage
Series A
Last 12 Mo
5
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
47 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Rani Therapeutics | Series A | $39M | May 2026 |
 EpiBiologics | Series B | — | Jan 2026 |
 FoRx Therapeutics | Series A | $50M | Dec 2025 |
 Flywheel | Series B | $27.5M | Dec 2025 |
 Artios | Series D | $115M | Nov 2025 |
 SpliceBio | Series B | $135M | Jun 2025 |
 Alesta | Series A | — | Jan 2025 |
 Citryll | Series B | — | Dec 2024 |
 HYKU Biosciences | Seed | $64M | Nov 2024 |
 LoQus23 | Series A | $43M | Oct 2024 |
| EExsilio Therapeutics | Series A | $82M | Jun 2024 |
| LoQus23 | Series A | — | Jan 2024 |
 AstronauTx | Series A | $61M | Oct 2023 |
 Tagworks Pharmaceuticals | Series A | $65M | Jun 2023 |
 Flare Therapeutics | Series B | $123M | Mar 2023 |
 Alladapt Immunotherapeutics Inc. | Unknown | $119M | Jun 2022 |
| SpliceBio | Series A | — | Feb 2022 |
 Koneksa Health | Series C | $45M | Feb 2022 |
| IImmPACT Bio USA | Series B | $111M | Jan 2022 |
 Nuvoair | Series A | $25M | Jan 2022 |
 Aravax | Series B | $42.2M | Jan 2022 |
| KKoneksa | Series B | $16M | Jan 2022 |
 Freenome | Series D | $300M | Dec 2021 |
| Artios | Series C | $153M | Jul 2021 |
| Nuvoair | Series A | $12M | Jun 2021 |
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Top Co-Investors
Novartis Venture Fund27 shared
EQT Life Sciences8 shared
Pfizer Ventures8 shared
The Invus Group, LLC7 shared
SV Health Investors7 shared
M Ventures7 shared
RA Capital Management7 shared
GV5 shared
Andera Partners5 shared
Sofinnova Partners5 shared
IP Group plc5 shared
Omega Funds5 shared
Ysios Capital4 shared
OrbiMed4 shared
Roche Venture Fund4 shared
Schroders Capital4 shared
Avidity Partners4 shared
MPM Capital3 shared
New Enterprise Associates3 shared
Gilde Healthcare3 shared
Last updated: 20 October 2026