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Novo Holdings, the investment firm behind pharmaceutical giant Novo Nordisk, is committing $25 million over five years to a new, early-stage biotech incubator at the Broad Institute, a research center affiliated with both Harvard and MIT.

Novo Holdings’ commitment is the latest example of an ongoing push among biotech venture capitalists to invest in younger and younger startups.

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Novo Holdings’s venture arm will call the new incubator the Novo Broad Greenhouse. It will back roughly ten new projects or companies at a time — all of which will involve basic research. If some early work shows promise, Novo Holdings will put additional money into the project before spinning it out into a new company.

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